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Russia to refinance Belarus’ debt — first deputy PM

The presidents of Belarus and Russia discussed the debt issue at their meeting in St. Petersburg on April 3

© AP Photo/Sergei Grits

MINSK, April 4. /TASS/. Russia and Belarus have embarked on the decision on refinancing the current debt obligations of the republic in the amount of $750-800 million, First Deputy Prime Minister of Belarus Vasily Matyushevsky told reporters on Tuesday.

"It concerns refinancing the debt that we have, as part of our interstate loans for the current year. This is about $750-800 million, which includes the main debt and the interest which is to be repaid this year," the First Deputy Prime Minister of Belarus said.

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Matyushevsky said that the presidents of Belarus and Russia discussed the debt issue at their meeting in St. Petersburg on April 3.

"This issue was considered last year, and now we have returned to it, and we found it possible to resolve the matter in principle," he explained.

The First Deputy Prime Minister stressed that "the principal decision on debt refinancing has been made and formal procedures required for the signing of the agreement are underway."

Matyushevsky also said that during the meeting in St. Petersburg the heads of states touched upon the interaction of Belarus with the Eurasian Fund for Stabilization and Development (EFSD).

Vladimir Putin was informed about the program Belarus is implementing as part of the EFSD.

"At the level of the Russian president, we received support for our initiatives to continue this program. Vladimir Putin promised to provide every kind of assistance to ensure that the program with the EFSD is continued," the First Deputy Prime Minister of Belarus said.

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