13 Jun 2018 16:27

Belarus cleared to place sovereign bonds in China

MINSK. June 13 (Interfax) - The Belarusian Finance Ministry has received clearance from People's Bank of China to place sovereign bonds in China.

Clearance was granted during a meeting between Belarusian Finance Minister Vladimir Amarin and Deputy Chairman of the People's Bank of China Pan Gongsheng on Monday, the Belarusian embassy in China said in a statement.

During the meeting the parties agreed on an algorithm of joint action to float Belarusian state securities in China.

In addition, the Belarusian Finance Ministry and China Chengxin International Credit Rating Co. Ltd. (CCXI) signed an agreement to assign a national-scale credit rating to Belarus.

The signing of the documents follows understandings reached during Belarusian President Alexander Lukashenko's visit to China for the Shanghai Cooperation Organization summit on June 9-10.

The Belarusian Finance Ministry has said the country plans to place $300 million-$500 million in Panda bonds maturing in three or five years in China at the end of 2018 or early 2019.