Putin ratifies new debt repayment terms for Belarus

December 6, BPN. Vladimir Putin has signed into law new debt repayment terms for Belarus, Russian state-owned news agency TASS reported on December 5.

“The agreement [with the Belarusians] was reached in Moscow on March 14, 2022. The documents signed then provide for changes in the debt servicing by Belarus, postponing loan repayments and adjusting the interest rate,” it said.

It quoted Russian senator Grigoriy Rapota as saying that in early 2022, Belarus had asked Russia to renegotiate the debt because of a difficult financial situation.

Belarus is now expected to repay $1.4 billion in 2028-2033 instead of March 2022-April 2023, TASS reported.

Rapota added that Russia raised the credit limit by $25 million, adjusted the monthly tranche formula, and replaced the floating interest rate with a fixed rate of 12 percent per annum.