Finance Ministry of Belarus released the 104th issue of government bonds

The Finance Ministry of Belarus released the 104th issue of government bonds nominated in foreign currency worth over $103 million via the Belarusian Currency and Stock Exchange. According to the estimates, the funds raised from the non-residents of Belarus in order to invest in the issue accounted for at least $80 million.

“An increased attractiveness of this financial instrument thanks to a number of measures taken by the National Bank in July-August attributed to the reduction of the interest rate from 7.25% to 6.85% and the expansion of the issue from $50 million to $100 million compared to the conditions of the forex government bond flotation tenders held on 25 April and 23 July 2013,” the ministry said. The matter pertained, in particular, to the exemption of the funds of the bank-investor, assigned for the purchase of state forex bonds from the necessity to form the fund of compulsory reserves, and an opportunity to use forex government bonds as a security to get refinancing from the National Bank.

In September-December 2013 the Finance Ministry plans to hold a number of tenders for the placement of $250 million worth of government forex bonds.