Belarus to Sell Up to $2 Billion in Bonds This Year and 2011

By Anna Shiryaevskaya

May 15 (Bloomberg) -- Belarus plans to sell as much as $2 billion of bonds over this year and next to boost foreign investment in the economy.

President Alexander Lukashenko authorized the government to offer bonds with maturity of at least five years outside Belarus, according to a decree posted on Belarus' national legal Web Site today. External state debt will increase by $1.5 billion to $11 billion as of the end of this year, the decree said.

Belarus, a country of 10 million people with an economy the size of Sudan's, received $3.5 billion of International Monetary Fund bailout loans last year. The country invited bids from banks to manage its debut sale of international bonds next year, Pavel Ladik, an aide to Finance Minister Andrei Kharkovets, said in a phone interview Nov. 13.

--Editor: James M. Gomez


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