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Belarus to pay some foreign debt holders in Belarusian rubles

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MINSK, 7 April (BelTA) – Belarus will honor commitments to individual foreign debt holders in Belarusian rubles. The move is stipulated by the corresponding resolution of the government and the National Bank, the government’s press service told BelTA.

While honoring its obligations to repay the principal debt and the interest on foreign state loans taken from the International Bank for Reconstruction and Development, the European Bank for Reconstruction and Development, and the Nordic Investment Bank, Belarus will make payments in Belarusian rubles according to the official exchange rate of the Belarusian ruble against the relevant foreign currency as of the date of the payment.

It is a measure Belarus has been forced to take due to sanctions-based restrictions on transactions with western creditors in U.S. dollars and euros and due to similar actions taken by the abovementioned organizations to terminate transactions as part of their obligations.

The resolution will come into force after it is officially published.

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