Belarus defaulted on foreign debt - Moody's

The Ministry of Finance of Belarus made payments on Eurobonds in Belarusian rubles. In this regard, Moody's believes that Minsk defaulted on its external debt.

This was reported by the international rating agency.

It is noted that on July 13, a grace period passed when Belarus had to pay $22.9 million on ten-year Eurobonds Belarus-27. Owners of Belarus' foreign debt failed to receive their payments on time because Minsk made payments in the national currency, which is a default.

If payments are not made according to the established conditions, the official rating agency of Belarus Fitch will also declare a default.