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Sberbank Helpful in Belarus

MINSK — Sberbank is willing to assist Belarus' government in debt refinancing this year if it moves some borrowing into Russian rubles, the chairman of the bank's Belarussian unit said.

"If the government will be willing to refinance part of its debt this year in Russian rubles and issue eurobonds, we are ready to serve as an underwriter or investor," Vasily Matyushevsky, chairman of BPS-Sberbank, told reporters Friday after the unit's annual meeting.

Matyushevsky declined to say whether the Sberbank group has held negotiations with the Belarussian government on the matter. The Sberbank group may invest $2 billion to $3 billion into the Belarussian economy this year depending on the economic situation, Matyushevsky said, reiterating earlier comments.

(Bloomberg)

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