×
Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Russia Grants $110 Million Loan to Belarus

Belarussian President Alexander Lukashenko

The Russian government said late last week it had approved a $110 million ruble-denominated loan to Belarus.

The announcement comes just one day after Prime Minister Dmitry Medvedev said Moscow would allow Belarus to defer payments due this year on existing debt.

Belarus has debt repayments of $4 billion falling due in 2015, mostly to Russia and the International Monetary Fund, according to the Reuters news agency.  

The government's statement said the $110 million loan was aimed at ensuring Belarus could service its existing debts.

"To avoid transaction and foreign exchange risks associated with the fluctuation of the U.S. dollar exchange rate, the loan and the servicing of the debt will be carried out in Russian rubles," the statement said.

A former Soviet republic, Belarus' economy has been rocked by currency devaluation and an economic slump in neighboring Russia.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more