24 Aug 2022 09:18

Belarus not planning to look for new payment agent for Eurobonds - first dep PM

MINSK. Aug 24 (Interfax) - Belarus does not plan to look for a new payment agent for its Eurobonds at the moment to replace Citibank, which decided to stop playing this role in early July, First Deputy Belarusian Prime Minister Nikolai Snopkov said on Tuesday.

"Do we need to look [for a payment agent]? This issue is not urgent for us at the moment. We believe that if they don't want to deal with us and work together and all international financial institutions have taken all financial flows away from us, why should be look for someone in order to settle up? Whoever needs this, can look," Snopkov said in Moscow, where he was participating in the opening ceremony for an updated Belarusian pavilion at the VDNKh exhibition grounds, state news agency BelTA reported.

Citibank said on July 7 that it would no longer act as payment agent on Belarusian Eurobonds maturing in 2027, after Belarus made a payment on the bonds in Belarusian rubles on June 29. The Finance Ministry transferred the money in the national currency to a special account at Belarusbank and asked the payment agent to independently withdraw it from this account and pay investors.

The Finance Ministry said in early July that it was looking for alternative payment agents.