Belarus to seek loan from Azerbaijan
MINSK. July (Interfax) - The Belarusian government is planning to negotiate new loans from Azerbaijan, a source in the financial circles in Minsk has told Interfax.
"We have chances to attract a state loan from Azerbaijan. Other schemes, including lending against commodities, will also be discussed," the source said.
Finance Minister Andrei Kharovets is among the officials accompanying Prime Minister Mikhail Myasnikovich during his visit to Baku on July 7-8, the source said.
Considering last year's experience, chances of attracting a state loan from Azerbaijan look good, the source said, referring to a $200 million short-term loan with a 12-day repayment period Belarus secured from Azerbaijan in June 2010 to repay its debt to Russia's Gazprom . Minsk repaid the loan ahead of schedule.
On June 1, 2011, Belarus' external debt stood at $10 billion 734.9 million, up by 10.8% from January (down by 0.8% in May). The debt increased by 83.6% in January-May (including 63.6% in May) to 53 trillion 352.6 billion Belarusian rubles, nominated in the domestic currency.
The 2011 budget law sets the national debt ceiling at $13 billion.