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Belarus promises not to ‘eat away’ $2bn loan from Russia

Published time: December 25, 2013 21:22
Russia's President Vladimir Putin (L) and his visiting Belarus counterpart Alexander Lukashenko speak during their meeting in the Kremlin in Moscow, on December 25, 2013 (AFP Photo / Kirill Kudryavtsev)

Russia's President Vladimir Putin (L) and his visiting Belarus counterpart Alexander Lukashenko speak during their meeting in the Kremlin in Moscow, on December 25, 2013 (AFP Photo / Kirill Kudryavtsev)

Belarusian President Alexander Lukashenko said that Minsk will not “eat away for no special reason” a $2 billion loan that Russia has promised to deliver in 2014.

After Russian President Vladimir Putin said on Wednesday that Moscow would help Belarus with another financial package, Lukashenko assured that the loan would be used efficiently and returned to the Russian economy.

The Belarusian president reminded that the country’s economy was about 70 percent reliant on Russia’s commodities and components, which means the money lent will implicitly contribute to Russia’s economic growth.

“Both Russia’s government and, all the more, President Putin, can count money very well; don’t do anything just for the sake of it,” Russian newspaper Vzglyad [Judgement] quoted Lukashenko as saying.

Belarus will receive the money in the form of an intergovernmental 10-year loan, leaving budget money untouched, explained Anton Siluanov, head of Russia’s finance ministry.

Interest rates and credit terms will be discussed in 2014, and will involve some amendments to the budget law of the Common State of Russia and Belarus, the finance minister explained.

Russia decided to help its closest CIS trade ally by “taking into account what’s happening in the world markets," Putin said.

Comments (6)

 

Aryan 27.12.2013 14:55

EU tried to bribe comrade Lukashenko into betraying Russia,but to no avail so EU decided to wreak havoc in Belarus,by creating chaos and attacking their economy,but to no avail again.Even president Medvedev persecuted him for a while,but president Lukashenko stood solid like a rock,dedicated to Belarusians and never betrayed Russians to EU imperialism.God must have given him Jacob's patience and saintly principles,because any other leader would have surly buckled by now,under all that pressure.

 

Peter 27.12.2013 09:21

Love Belarus! Long live the last socialist country in Europe! Anyone who travels the eastern Europe will notice how much higher Belaruses standard of living is compared to other nearby countries thanks to their socialism, a much more stable and strong society.

 

Iqbal Halani 26.12.2013 11:13

Russia should charge 2% interest like US Treasury Bills, Belarus can easily make more than 2% per annum on the loan by giving a free aquaponics kit to each household even by eating all the homegrown fish from the PVC tanks !

View all comments (6)
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