Elections in Belarus 2015

Belarus heavily in debt to Russia: Finance Ministry denies payment rescheduling


The Belarusian Finance Ministry has refuted mass media reports about Russia’s granting Belarus a respite on payments for loans till 2016.

The Ministry’s representatives have stated that the issue on rescheduling of Belarus’ payments was not discussed during the session of the Council of Ministers of the Union State of Belarus and Russia in Moscow on September, 29.

The statement was made in response to the publications by Russian and Belarusian media outlets which made reference to the papers of the session.

Last year, Russia lent out over $2 bn to Belarus. In March 2015, the parties signed an agreement for a loan for $110 mln, and in July – for $760 mln.

This year, Moscow agreed to repackage loans of $1 bn and $300 mln, but even after that Minsk has to pay back $2 bn and $700 mln of foreign loans in 2015.