MINSK, October 19. /TASS/. Belarus fulfilled its obligations to the International Bank for Reconstruction and Development (IBRD) in full and in due time in April-October, transferring payments in Belarusian rubles to an account opened in Belarusbank, the country’s Finance Ministry reported on Wednesday.

"The Finance Ministry fulfilled obligations on agreements for loans concluded by the Republic of Belarus and the International Bank for Reconstruction and Development in full and in due time in April-October, transferring payments using facilities in foreign currency to a separate current account in Belarusian rubles opened in Joint Stock Company Belarusbank," the report said.

The possibility of settling obligations in foreign currency in a standard mode "is currently limited to continuous sanctions against the Republic of Belarus," the ministry explained.

As sanctions do not allow making payments in euros and dollars, a presidential decree was adopted this March in Belarus ‘On additional measures to ensure stable functioning of the economy’. In accordance with the document the government and the country’s National Bank passed a decree in April ‘On temporary measures on settling external state obligations’, which stipulates the repayment of debt obligations through transfer of payments using foreign currency to a separate current account in Belarusian rubles opened in Belarusbank.

Earlier, the World Bank said it would place all loans provided by the International Bank for Reconstruction and Development to or guaranteed by Belarus into non-performing status due to missed payments starting October 17. As of October 14, 2022, overdue payments owed by the Republic of Belarus to IBRD amounted to $68.43 mln equivalent, the organization said, adding that the principal amount outstanding on IBRD loans was $967 mln, or 0.42% of IBRD’s total outstanding loans. The effect on IBRD of Belarus loans being placed in non-performing status is a charge to income of about $12.75 mln equivalent, the World Bank explained.

There has been no new lending approved to Belarus since May 2020, according to the International Bank for Reconstruction and Development. In March the World Bank Group stopped all its programs in Belarus due to the situation around Ukraine.