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. Last Updated: 07/27/2016

Belarussian Eurobond

MINSK, Belarus () -- Belarus is going ahead with plans to issue a Eurobond in 1997 and expects to sign a memorandum with the World Bank soon, first Deputy Prime Minister Pyotr Prokopovich said at a news conference Thursday.

Minsk would need an international credit rating before tapping financial markets, and most investors would seek clear evidence of a credible economic reform program.

The World Bank, which has lent $170 million to Belarus, is prepared to issue a credit of $40 million to support private business with increases to follow -- if it accepts its conditions to liberalize prices and the currency market by July 1. The International Monetary Fund has suspended its loan program to Belarus until President Alexander Lukashenko initiates effective reforms.