The World Bank recently included Belarus in the list of countries that are not servicing their financial debts.
The Ministry of Finance of Belarus explained that they could not issue their debt payments in foreign currency due to Western sanctions. Mirror reports.
On October 17, the World Bank included Belarus in the list of countries that do not service their debts. All loans of the International Bank for Reconstruction and Development, given to Belarus or guaranteed by Minsk, were transferred to non-performing status.
“Currently, sanctions restrictions are imposed on the National Bank of Belarus, which is the paying agent of the government of Belarus, by the EU and the US, which does not allow settlements in euros and dollars,” said Ministry of Finance.
They recalled the April resolution, in which the Belarusian government temporarily allowed payments on foreign loans in Belarusian rubles.
“The ability to pay debt obligations in foreign currency in the usual way is currently limited due to the ongoing sanctions against Belarus … In April-October, the Ministry of Finance fulfilled fully and on time obligations to under the loan agreements concluded between Belarus and the International Bank for Reconstruction and Development, transferring payments at the cost of funds in foreign currency to a separate current account in Belarusian rubles opened in Belarusbank,” said of the Belarusian Ministry of Finance in a statement.
It should be reminded that in July the UK introduced new economic, trade and transport sanctions against Belarus.
Earlier, US President Joe Biden extended the sanctions regime against the current Belarusian authorities.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.