With all this Our homeland and Belarus plan to create a joint plan of action involved in including, and the creation of the single currency. The Ministry of money RF RIA Announcements clarified that second billion will be allocated after the signing of a joint action plan.
On the Russian side the document was signed by the Vice-Prime Minister, Minister of Finance Alexei Kudrin, Belarusian — Minister of Finance Andrew Kharkavets. Credit is given for 15 years with a 5-year grace period on principal repayment.
Doctor of Economics Boris Zheliba believes that the Russian loan helps Belarusian economy:
Boris Zheliba"Now the Russian loan to Belarus needed since we minus the balance of payments, and if more precise: the trade balance for the first 9 months — minus 4 billion U.S. dollars. Greatest tension in Belarus — money, because I believe that our homeland 2 — billion loan helps our economy and particularly its cash position as first billion dollars is already in November. It will be applied, I believe, to maintain the exchange rate of the Belarusian ruble against the U.S. greenback. To be honest, our homeland now helps Belarus from the global financial crisis.
Here, of course, there are questions. For example, our total external debt to this day — 14 billion dollars, and if it will be added to the 2 billion Russian loan, if there are still 2 billion from the IMF — it reaches 18 milyardav bucks. That’s a lot, and then you need to think about when and who will return this external debt. "
After 2007 Our homeland and Belarus signed an agreement on Minsk 15 years of the loan of 1.5 billion dollars with a five-year deferred payment. Belarus requested these funds, namely the payment of energy.
Tags: credit, currency