Kharkovets: Next year will be difficult

Belarus intends to tighten external borrowing strategy.

Belarus is studying the opportunities to enter the eurobond markets in 2013, Finance Minister Andrei Kharkovets told reporters in the House of Representatives on 21 June.

“The country always needs to choose from available financing facilities. If there is a need for funding, of course, we will be attracting the resources least expensive in terms of servicing,” the minister said.

“If necessary we will work on financial markets. We will conduct consultations and meetings with investors this autumn. Apart from London it can be Asia as well. We conduct these meetings to provide potential investors with information on the latest trends in the country,” Andrei Kharkovets said. “This is a usual practice. This is a dialogue with partners,” he added.

“This year, we see no need for additional borrowings. The means that we have planned as part of our work with the Anticrisis Fund of the Eurasian Economic Community will be enough,” the minister said.

However, next year will be difficult for Belarus, he added. “If a foreign trade surplus is achieved, our needs will be lower. But if there are some difficult situations, then we will not do without borrowings on foreign markets. Therefore, today we will be building our work in such a way so that we would be prepared to enter the markets anytime next year,” Andrei Kharkovets said.