Earlier this week, Moscow approved $2 billion loan to Belarus and purchased the first tranche of Ukraine’s Eurobonds worth three billion dollars. The move will increase Belarus’s gold and currency reserve and help Ukraine avoid default.
In 2014, Russia will grant Belarus another loan of up to $2 billion with a repayment period of 10 years, President Vladimir Putin said in the wake of a meeting of the Supreme State Council of Russia and Belarus, citing the world market situation as a reason. Belarus needs the Russian loan to update its production facilities and bolster its national currency.
