Belarus weighs debt refinancing with Russia rather than new Moscow borrowings
The head of Belarusian Finance Ministry, Yuri Seliverstov, stated that Minsk intends to strike an agreement with Moscow focused on refinancing existing debt rather than seeking fresh loans from Russia. This information came from the television channel Bel TV, Bel1. The purpose of the move is to manage debt more efficiently without increasing the overall debt burden.
Seliverstov clarified that the plan does not involve higher borrowing. Instead, the aim is to reorganize the current obligations to reduce the cost of debt service and extend repayment terms where possible. The ministry expects that partial repayments will help keep the financial commitments on track while preserving liquidity for essential state functions.
The minister emphasized that Belarus is obligated to meet existing commitments to the Eurasian Stability and Development Fund and to honor loans borrowed from the Russian Federation under varied conditions. This note underscores the importance of honoring international financial arrangements while exploring options to improve terms where feasible.
Belarus is examining opportunities to access funds through the Russian financial markets to support the national budget. These considerations are being evaluated as part of broader discussions with European institutions that have imposed sanctions on the country. The objective is to secure a refinancing path that aligns with Minsk fiscal policy and external constraints, while maintaining access to affordable financing channels.
In related developments, discussions at the government level suggest a willingness to adjust debt strategies with Moscow. Analysts point out that such adjustments could help stabilize the public debt profile amid sanctions and shifting regional financial conditions. The parties have indicated ongoing dialogue to determine the most favorable refinancing terms within the existing legal and economic framework.
Previously, the former Prime Minister of Belarus indicated that Minsk had reached an agreement with Moscow on restructuring the republic’s financial obligations. This development signals a continued emphasis on cooperative financial management between Belarus and Russia, aimed at preserving fiscal stability and safeguarding state needs in the face of external pressures. Attribution: Bel TV channel Bel1 and official government disclosures.