Belarus to spend about Br4bn on servicing state debt in 2023

About Br4 billion has been appropriated for servicing the state debt in Belarus in 2023. Belarusian First Deputy Finance Minister Dmitry Kiyko made the statement on the air of the TV Belarusian channel STV, BelTA has learned.

Dmitry Kiyko said: “There are issues with the state debt every year. The state budget for the year 2023 has appropriated about Br4 billion for servicing the state debt. Nearly 75% of the sum in currencies of the countries that are friendly to us. The Russian ruble, the Chinese yuan.”

Apart from servicing the state debt there are plans to make payments on the principal debt. “In February we will have to redeem eurobonds worth about $800 million. There are certain problems due to the sanctions that have been introduced against Belarus. In particular, against the National Bank of the Republic of Belarus, which is the government's paying agent. Last year the government and the central bank made a joint decision to make payments in Belarusian rubles due to this situation. The payments will be made to the investors, who can confirm they are holders of the eurobonds. The relevant resources are available for it. We will handle this payment without any shocks.”

Certain procedures are in place with regard to the other investors, the main of which is the Russian Federation in addition to Eurasian financial institutions. “We understand how we have to work. We intend to make payments according to the schedules we have. Nevertheless, we are in negotiations on making payments on the terms that are comfortable for us. And our partners hear us, the work proceeds constructively,” Dmitry Kiyko remarked.