Belarus to ask for loans to China instead of Russia (PHOTO)

Белоруссия обратится за займами к Китаю вместо России (ФОТО)

Belarus has not asked Russia for state credits in the amount of approximately $600 million, sees no need to obtain “political credit”. This was stated by Finance Minister Maxim Ermolovich, quoted by TASS.

“We do not consider as the source of funding a loan to the government of the Russian Federation and, in fact, do not negotiate about this loan. So the need for some political loans absolutely not,” he said, adding that the Belarusian side has not sent any requests on the loan to the Russian side.

“In fact, with regard to sources of financing we secured in the current year and there is a clear understanding according to sources in 2020”, – he said. According to him, Belarus expects to end this year to a Chinese loan of 3.5 billion yuan, equivalent to about $500 million.

As stated on 19 October the first Vice-Premier, Finance Minister Anton Siluanov, the decision on granting Belarus a loan of $600 million is still pending and depends on the advance of Moscow and Minsk in the issue of further integration. He added that the decision to issue a loan of 600 billion rubles depends on how will progress on the integration track.

Earlier Minsk has requested the allocation of more Russian state loan to refinance part of the liabilities to the Russian Federation foreign debt in 2020. In April 2019, the Russian government approved the allocation of Belarus state credit of $600 million In June Ermolovich said that Moscow links the allocation of Minsk state credit with the integration processes. Alternatively the Russian state loans, the Finance Ministry called attract loan of China development Bank.

19 October, first Deputy Prime Minister and Finance Minister Anton Siluanov said that the state loan of $600 million, which for a long time discussing Russia and Belarus, may in the end not to be. He noted that the prospects of the loan have nothing to do with plans for the integration of the two economies.