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Belarus To Get Money From China To Pay Off Russian Debts
«We planned to get another loan from Russia, but we postponed the issue, since we have found an alternative with our Chinese partners,» Byalkavets said on July 9.
Byalkavets's statement came weeks after Finance Minister Maksim Yermalovich said that his country had been seeking to borrow money from a country other than Russia due to mounting differences in bilateral relations.
Russia has been Belarus's main lender for many years, and Minsk still owes Moscow large sums of money. Belarus' economy remains largely inefficient, and its external debt increased by $3.4 billion from July 2016 to October, while budget revenues amount to $10 billion.
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