On Thursday, July 14, the international rating agency Moody's stated that payments on the foreign debt of Belarus in local rubles are a default.
That follows from the respective Agency’s statement.
Thus, it is reported that on June 28, the Council of Ministers and the National Bank of Belarus decided to pay foreign currency debts in Belarusian rubles.
By June 29, Belarus was supposed to pay the coupon on Eurobonds-2027 in the equivalent of USD 22.9 million, but it paid the coupon in Belarusian rubles.
At the same time, another rating agency, Fitch, responded by downgrading the country's long-term rating to pre-default C, launching a grace period.
On July 13, the Ministry of Finance of the Republic stated that it was forced to pay in Belarusian rubles, as Citigroup and Citibank stopped working with the country and its Eurobond payments due to sanctions.
As reported by Ukrainian News Agency, the British government intends to introduce new economic, trade and transport restrictions on Belarus against the background of the Belarusian regime's statements regarding its full support for Russia's aggression against Ukraine.
On July 2, the self-proclaimed President of the Republic of Belarus Aleksandr Lukashenko openly supported Russia and its war against Ukraine.
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