S & P: Belarus Continues To Face Economic Crisis

S & P agency has confirmed ratings of Belarus.

According to Business News, this information was given in the agency’s press release.

Long-term rating was confirmed to be B-, short-term - B. Rating forecast - stable.

“The external position of Belarus is very vulnerable because of the very high external financing needs, and we expect that the country will continue to face the economic downturn in 2016”, – was stated in the press release.

It is said in the document that Belarus will continue to use foreign support from Russia and that the Eurasian Fund for Stabilization and Development has approved a loan for USD2 billion, USD0.5 billion of which has already been received.