OREANDA-NEWS. On 8 February 2008 an official with the Finance Ministry announced, that Belarus’ state foreign debt went up 150% in December to US$ 2.337 billion as of January 1, 2008.

The debt decreased 180% in January-December.

The government’s long-term debt accounted for 86.7% of the total foreign debt, government’s short-term debt for 0%, and foreign loans to companies’ against the government’s security for 13.3%. As of January 1, 2007 the figures were at 58.4%, 10.2% and 31.4%.

The foreign debt limit for late 2008 was set at $4 billion.

Belarus’ has borrowed the most from Germany, the World Bank, the U.S. and Russia.

Belarus confirms that it is interested in taking out another state loan from Russia, this time amounting to U.S. $2 billion, Finance Minister Nikolai Korbut told reporters on Wednesday.

Under the December 20 loan agreement between the two states, Russia transferred US$ 1.5 billion to the U.S. dollar account of the Finance Ministry in the National Bank of Belarus (NBB). December 27, 2007 was the drawdown date for the loan.

Russia extended the 15-year US$ 1.5 billion loan to Belarus at an annual interest rate of 0.75% above Libor. A five-year grace is granted.