Belarus expects to get $3 bln loan from Russia within 30 days

Belarus expects to receive a $3 billion loan from Russia within the next 20 to 30 days to meet its financing needs and replenish its depleted foreign currency reserves, the republic’s National Bank said on Thursday.
Belarus had earlier requested a $2 billion loan from the anti-crisis fund set up by the post-Soviet economic bloc, the Eurasian Economic Community, and a $1 billion loan from Russia.
Experts polled by RIA Novosti say the ex-Soviet republic needs foreign loans to prop up the national currency and avoid a sharp devaluation.
“The National Bank Board has decided to refrain for the period of 20-30 days, until the receipt of the Russian government loan, from any decisions on the bank’s exchange rate, foreign currency and monetary policy,” the Belarusian news agency Belta quoted the…

Leave a comment