Minsk intends to start paying Eurobonds to Russian investors before the end of the year

Belarus expects to begin paying Eurobonds to Russian investors by the end of 2023, said the head of the Ministry of Finance of the Republic, Yuri Seliverstov. He said that “Russia has found a solution for payments on Eurobonds,” but added that “there are some specific features,” and it is necessary to build a mechanism for issuing Eurobonds on both sides.

“Now Belarus and Russia are developing a common mechanism for transferring money to investors. It was decided to work with the authorized depositories of the neighboring country,” Mr. Seliverstov said on the state television channel “Belarus 1” (quoted by Interfax).

The minister assured that payments on Eurobonds will continue in subsequent years. “We are with them (with Russia.— “Ъ”) we are building long-term work to work through the central depository of the Russian Federation. They also carry out this work themselves. And here, as soon as all the preparatory actions are completed, which previously were not necessary in principle either for us or for them, mutual settlements will proceed more actively,” he added.

In October, a group of private investors of 200 individuals and 30 organizations appealed to Deputy Head of the Ministry of Economy of the Russian Federation Dmitry Volvach with a request to limit Belarus’ access to Russian government loans and the capital market due to non-payments on Eurobonds. Belarusian Ministry of Finance reportedthat payments on Eurobonds will be made after agreements with the National Settlement Depository of the Russian Federation.

Details are in the Kommersant FM article. “Belarus remained in debt”.

Laura Keffer