Minsk announced that it would fulfill its debt obligations under Eurobonds in Belarusian rubles, and this decision was approved by the government and the National Bank of the country.
“Debt obligations on government securities placed on foreign financial markets will be executed in Belarusian rubles at the rate of the National Bank on the date of payment,” the press service of the Cabinet of Ministers of the country said on Tuesday.
Minsk considers this action mandatory, due to “the inability of the paying agent and other participants in the international settlement and clearing system to ensure the completeness and timeliness of the transfer of funds to all holders of Eurobonds.”
The government of Belarus said: “This is confirmed by the fact that individuals did not receive coupon income on Eurobonds, which were transferred by the Ministry of Finance in February of this year.”
Source: TASS