BELARUS NEWS AND ANALYSIS

DATE:

27/06/2007

Belarus seeks rating, considers Eurobonds

MINSK, June 27 (Reuters) - Belarus expects to receive a credit rating soon and is considering issuing Eurobonds in the autumn, First Deputy Finance Minister Andrei Kharkovets said on Wednesday.

"We have potential possibilities here. And we already have specific proposals from several banks," Kharkovets told reporters outside parliament.

"We are examining the possibility of issuing Eurobonds on international financial markets."

He said the issue might take place in the autumn.

"This will depend on how the situation in our country develops in terms of drawing in foreign financing," he said.

Belarus, led by President Alexander Lukashenko since 1994, is accused by Western countries of crushing fundamental rights.

Lukashenko dismisses the allegations and remains broadly popular in the ex-Soviet state wedged between Russia and three European Union states. He says his brand of state-guided economics has spared his 10 million compatriots the hardships and upheavals of neighbouring ex-Soviet states.

But the president quarrelled with traditional ally Russia in the New Year over energy prices and his ministers have talked about attracting foreign money to offset falling subsidies and keep social programmes afloat.

Kharkovets said Belarus had already received information from two agencies and expecting details from a third.

"We are already in the home stretch with two rating agencies," he said. "I believe we will get information from the third agency by the end of the week. The government and president will then take decisions on publishing the rating."

Source:

http://asia.news.yahoo.com/070627/3/33z62.html