Belarus keeps paying foreign debt in rubels

December 7, BPN. Belarus made payments to holders of its Eurobonds in rubels on December 6, a fourth such instance.

The Belarusian finance ministry said payments were made to the accounts of bondholders from Russia, Armenia and Belarus.

In July, Moody’s said that the payment of foreign-currency debt in Belarusian rubels constituted a default.

In October, the World Bank attached a “non-performing” label to all loans granted to Belarus by its main lending arm, citing overdue payments.

Belarusian financial sector remains under heavy western sanctions.