BELARUS NEWS AND ANALYSIS

DATE:

27/12/2007

Belarus Receives $1.5-Billion Loan From Russia

Russia has transferred to the National Bank of Belarus a $1.5-billion loan, Belapan reported on December 27, citing a source in the Belarusian Finance Ministry. Minsk asked Russia for a $1.5-billion stabilization loan in February to ease the effects of the higher price for natural gas imported from Russia. Belarus and Russia reached an agreement on the loan on December 20. Russia pledged to give the loan in one tranche before the end of the year. The loan must be repaid in 15 years, with a five-year deferment of repayment. Earlier this month, the Belarusian government increased the state-debt limit from $2 billion to $4 billion. According to the Finance Ministry, the debt then amounted to $827.8 million. AM

Source:

http://www.rferl.org/newsline/2007/12/3-cee/cee-271207.asp