Russia rejects new loan request from Minsk
Russia is not considering a request from Belarus to issue a Rur100-billion loan in exchange for using the Russian currency in mutual trade payments, Russia's deputy finance minister Dmitry Pankin told reporters on January 24. "They mentioned in their letters the sum of Rur 100 billion, but we are not even going to consider it", the Russian news agency Ria-Novosti quoted the official as saying.
Pankin reminded that Russia had earlier approved a $2billion-worth loan for Belarus. In November 2008, the first installment of $1 billion was already wired to Minsk.
The second installment was to be wired after a plan of joint actions to overcome the world financial crisis was signed by the two countries.
The loan was issued to Belarus for 15 years under the LIBOR rate plus 3 percent p.a.with the adjournment of payment for five years. This is the second loan obtained in Russia since 2007, when Belarus was granted a loan of $1.5 billion for 15 years under LIBOR plus 0.75 percent p.a. with the five-year adjournment of payment as well.
The trade turnover between Belarus and Russia in 2008 rose by 40 percent against 2007. Experts forecast it will reach a record-breaking level of $33 billion
Pankin reminded that Russia had earlier approved a $2billion-worth loan for Belarus. In November 2008, the first installment of $1 billion was already wired to Minsk.
The second installment was to be wired after a plan of joint actions to overcome the world financial crisis was signed by the two countries.
The loan was issued to Belarus for 15 years under the LIBOR rate plus 3 percent p.a.with the adjournment of payment for five years. This is the second loan obtained in Russia since 2007, when Belarus was granted a loan of $1.5 billion for 15 years under LIBOR plus 0.75 percent p.a. with the five-year adjournment of payment as well.
The trade turnover between Belarus and Russia in 2008 rose by 40 percent against 2007. Experts forecast it will reach a record-breaking level of $33 billion
