Adds details, background
June 28 (Reuters) – Belarus will service its Eurobond debt in its own currency – the Belarusian rouble, its government announced on Tuesday. as Western sanctions limit its ability to trade in foreign currencies.
The European Union, the United States and other Western countries have included Belarus in the sweeping sanctions imposed on Russia since Moscow sent thousands of troops to Ukraine on February 24 from Russian and Belarusian territory.
This is a forced measure, the Belarusian the government said in a reportadding that the paying agent and participants in the clearing system could not guarantee that all Eurobond holders will receive the funds in full and on time.
Belarus currently has five Eurobond issues, all in US dollars, with approximately $3 billion outstanding.
In April, the Belarusian government decided to pay debt and interest in Belarusian rubles on loans from the International Bank for Reconstruction and Development (IBRD), the European Bank for Reconstruction and Development (EBRD) and the Nordic Investment Bank.
(Reporting by Reuters Editing by Gareth Jones)
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