Belarus is considering restructuring some part of its external state debt and in effect defaulting on debt coming due this year, First Deputy Prime Minister of Belarus Dmitry Krutoi said.
Vienna-based think tank expects the coronavirus pandemic to result in the worst year for the region since the global financial crisis.
The EBRD has unveiled an emergency €1bn “Solidarity Package” to help companies deal with the impact of the coronavirus pandemic.
Best known as “Europe’s last dictatorship”, Belarus has a secret. Over the last decade it has grown a blossoming high tech industry that earned the small northern republic nearly $15bn last year – as much as Russia earns from arms exports.
The industry production in Belarus plunged by 5.8% year-on-year in January, according to the national statistics agency Belstat.