Russia’s credit, if any, may be too late :: Charter'97 :: News

The first deputy prime minister of Belarus declared that our country was to continue negotiations with Russia for receiving the USD 1.5 billion credit .Uladzimir Syamashka remarked that during the last meeting of both countries’ prime ministers the Russian side declared that the credit granting to Belarus had been postponed for October -December this year.

“Everybody understood that to pay the new price for gas deliveries would be rather difficult for the Belarusian economy. We mentioned our urgent demand of the stand-by credit and gave its exact value-USD 1.5 billion. But, unfortunately, it so happened that they demanded full-value settlement as stipulated by the contract. And as far as the stand-by credit is concerned it may be probably granted in October or in December .Thus we were answered by the Russian side at the last meeting of both countries’ prime ministers in Moscow”, the Telegraf quotes Uladzimir Syamashka referring to the government’s press-service.

“Never mind, we shall wait , we do not deny any sort of credit” , the first deputy prime minister of Belarus added and mentioned that the Belarusian economy was not overloaded with the borrowings a great reserve remained for receiving the outside borrowings before the deadline of the financial security of the state could be reached”.

“The time has come when the large volume of investments and outside borrowing are demanded, including the Russian borrowings but only on those conditions which will be beneficial for Belarus.

We are to pay 100% of the delivered gas value since August. It is on 23 August that the payment for July gas deliveries is to be made as stipulated by the contract with the Gazprom. And that totals around USD 150 million”, Uladzimir Syamashka informed.