Russia was prepared to consider granting a further loan of Belarus for several tens of billions of rubles. The statement was made assistant to the President of Russia Sergey Prikhodko, Interfax reports.
According to him, during the meeting of the Supreme State Council of the Union State Central Bank and Ministry of Finance of Russia has been instructed for two weeks to submit their opinions on the request of the Belarusian government. Prikhodko added that the loan amount in rubles is not precisely defined.
During the meeting, the Council also established the specific measures and tools to enhance the use of the ruble in mutual payments between the two nations. These actions are taken in the joint crisis plan between Russia and Belarus.
In autumn 2008, Russia has granted Belarus a credit of two billion dollars, with the first tranche has already received in December. Issuance of the second half of Russia promised to expedite the end of January. However, the 24 January, the Russian Ministry of Finance announced that an additional loan of $ 100 billion rubles will be allocated.
In exchange for granting the Russian loan Belarus agreed to pay for oil and gas coming into the country, the Russian ruble. Thus, Minsk will have to buy the Russian currency to mutual with Moscow.
Apart from Russia, Belarus has also received credit for 500 million dollars from Venezuela, as well as 2.5 billion dollars from the International Monetary Fund. These funds are needed to replenish the country's foreign reserves.
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