Belarus will pay its debt in Eurobonds in the national currency, the Belarusian ruble.
This is reported through BelTA.
“Debt obligations on government securities, placed on foreign money markets, will be completed in Belarusian rubles at the rate of the National Bank on the date of payment,” the government press service said.
It is reported that this decree has been followed through the Council of Ministers and the National Bank.
The government said the resolution is a forced measure. This is similar to the inability of the payment agent and other participants in the foreign agreement and clearing formula to complete budget transfers to all Eurobond holders in a timely manner.
The press service reports that this is demonstrated through the failure to receive the coupon revenue source through some Eurobond holders, which were transferred through the Belarusian Ministry of Finance in February 2022.
Earlier, Belarus announced that it would repay foreign loans from the EBRD, IBRD and NIB in Belarusian rubles.
Earlier, Moscow had announced the servicing of its foreign debt in the national currency, the Russian ruble.
Yesterday, Moody’s announced Russia’s default on foreign currency government bonds, as the era of grace for the payment of around $100 million in arrears in Moscow securities expired on June 26.