OREANDA-NEWS. September 17, 2010. Belarus will require USD 695 million to service its foreign debt in 2011, Finance Minister Andrei Kharkovets said when presenting the budget bill for 2011 in the lower chamber of parliament, the House of Representatives.

“Republican budget expenditures to service the foreign debt amount to USD 695 million – this includes payments to the IMF, WB, Russia, China and Venezuela, and for bonds Belarus has sold this year,” Kharkovets said.

The Belarusian foreign debt is characterized by low refinancing risks and low cost of service. As of August 1, 2010, the average interest rate stood at 3.74%, and the average term to maturity was at 6.3 years.

Untied loans make up 85.4% of the total, and tied loans, 14.6%. The IMF loan to Belarus accounts for 40.7% of the debt, Russia 38.4%, and China almost 9%.