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Government allows government bonds denominated in foreign currency to be resold in domestic market

The Council of Ministers, by its November 27 directive, allowed government bonds denominated in a foreign currency to be resold in the domestic market.

The directive also authorized the finance ministry not only to sell government bonds directly to legal entities but also to sell them through an auction at the Belarusian Currency and Stock Exchange, according to the cabinet’s press office. The rules of such auctions are to be set by the finance ministry.

According to the directive, the government may issue short- and long-term bonds denominated in a foreign currency in the domestic market. Government bonds with a coupon yield may not be issued in the domestic market any more.

The finance ministry has sold $218 million worth of government bonds to Belarusian-based companies since October 5. //BelaPAN