Belarus no longer wants ‘political loans’ from Russia

Belarus no longer needs a government loan from Russia, Finance Minister of Belarus Maksim Yermalovich said, writes interfax.

“We do not consider the loan of the Government of the Russian Federation as a source of funding and, in fact, are not negotiating on this loan. We have not provided any requests to the Russian side. We do not expect to receive the Russian loan,” said Finance Minister Maksim Yermalovich.

In fact, the official Minsk turned to Russia for a refinancing loan in the amount of $600 million at the beginning of this year. Among other things, Minsk notes that the money is needed to compensate for losses from the Russian tax maneuver. But this justification did not find support in Russia, Moscow did not want to give funds. As a result, the Minister of Finance of Belarus said that the country had no need for “political loans”.

But this does not mean that Belarus will not take loans. According to Yermalovich, by the end of the year, the official Minsk will receive a loan of $500 million from the China Development Bank.