Belarus debt up another BYN0.5bn m/m

Central government debt grew by another BYN0.5bn to a new high of BYN45.6bn (USD21.1bn) in November. Over January-November, central government debt grew by BYN3.4bn, the finance ministry said. Belarus’s external debt was unchanged m/m at the record high USD16.8bn. In national currency equivalent, external debt grew by BYN0.4bn, roughly the same as in each of the two previous months, to BYN35.9bn. Belarus has been in difficult talks for a new Russian loan of late, but it’s not clear when Moscow will lend, if at all.

The FinMin’s breakdown shows that Belarus kept both borrowing from and repaying to Russia and China in November, while borrowing also a total of USD21m from IFIs. Domestic debt inched up to BYN9.7bn in November, a new high since April 2017. The FinMin said USD338m worth of FX-denominated domestic bonds was placed over January-November and USD310m was repaid. That’s up from respectively USD325m and USD310m a month earlier, so nothing was repaid in November alone.

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