The direct public debt of Belarus was down BYN0.5bn to BYN35.5bn (USD18.0bn) in October, according to figures published by the FinMin today. Domestic debt edged down to BYN9.8bn at end-October from BYN10.1bn at end-September. The government placed more BYN-denominated bonds in October, bringing total issuance to USD1.37bn and BYN527mn in January-October. At the same time, the government repaid USD140m worth of FX-denominated bonds, bringing the January-October total to USD1.42bn and BUN599m.
External government debt edged up to USD13.5bn at end-October from USD13.4bn at end-September and from USD13.3bn at end-August. The increase in October reflects borrowing primarily from Chinese banks (USD26m net) and Russia (USD20mn net). We recall that Belarus expects the delayed third tranche of a USD2bn loan from the Russia-dominated Eurasian Stabilization and Development Fund in December.