Kiyko: about Br4bn allocated to service Belarus’ public debt in 2023

Belarus’ First Deputy Finance Minister Dmitry Kiyko stated this during his talk with STV TV channel, BelTA reports

“Every year there are questions on public debt. About Br4bn is included in the budget expenditures for 2023 for servicing the public debt. At the same time, almost 75 percent of this amount is the currencies of countries friendly to us: the Russian Rouble and the Chinese Yuan,” Dmitry Kiyko said.

Alongside servicing the public debt, it is planned to repay payments on the principal debt.

“In February, we have to redeem Eurobonds in the amount of about $800m. There are certain problems here because of the sanctions imposed against Belarus, particularly, in relation to the National Bank, which is the paying agent of the Belarusian Government,” the First Deputy Minister added. “Last year, the Government made a decision together with the National Bank, taking into account such a situation, that payments will be made in Belarusian Roubles. Moreover, payments will be made to those investors who can confirm that they are owners of Eurobonds. Resources are provided for this, we will make this payment without any shocks.”

As far as other creditors are concerned, the main of which are the Russian Federation and Eurasian financial institutions, there are certain mechanisms of work.

“We understand how to work. We plan to repay payments according to the schedules that we have. Nevertheless, we are negotiating to ensure that these payments are made in conditions that are comfortable for us. Our partners hear us and the work is proceeding constructively,” said Dmitry Kiyko.