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Belarus confirms plans to place sovereign bonds on Russian, Chinese markets this year

Finance Minister Maxim Yermolovich said the country plans to issue bonds worth $150 mln on the Russian market this year

MINSK, May 14. /TASS/. Belarus hopes to place sovereign bonds on the financial markets of Russia and China this year, the country’s Finance Minister Maxim Yermolovich told reporters on Tuesday, BelTA reports.

"We have actually fully arranged this work, there are a number of technical issues that we have to clarify," the minister said.

"We plan to issue [bonds worth] $150 mln on the Russian market this year," he said.

"The volume is small. It is not about some large-scale borrowings, but about opening up the market for ourselves, being present in this market. We should make a debut with minimal costs," the minister explained. He also confirmed plans to enter the Chinese market this year.

Earlier, the minister said that in 2019, Belarus was not going to place Eurobonds, but is about to "place sovereign bonds up to $2 bln on local markets," which are the markets of Russia and China.