Page 17 - BELRptJune18

As of 1 May 2018, Belarus' state debt totalled BYN42.3bn , up by BYN87.3mn or 0.2% from 1 January 2018. The internal state debt amounted to BYN9.4bn as of 1 May. Taking into account differences in currency exchange rates, the internal state debt increased by BYN261.8mn or 2.9% from the beginning of the year.
In January-April 2018 the Belarusian government sold $186.7mn worth of domestic government bonds nominated in foreign currencies to individuals and corporations and redeemed $126.9mn and BYN23.1mn worth of government bonds nominated in foreign currencies and Belarusian rubles from corporations and individuals.
Near-term external financing risks have declined due to the pre-financing in 2017 of payments due in 2018 through market and official borrowing, and due to an increase in international reserves.
FX debt service is $2.6bn (not including Eurobond payment) in 2018,
which will be covered by a mix of multilateral financing, local market issuance, use of FX cash buffers and potentially a new international bond issuance. FX liquidity in the local market and FX government revenues derived from custom duties and trade of oil products further mitigate near-term financing risks.
17 BELARUS Country Report June 2018 www.intellinews.com