MINSK, 13 October (BelTA) – Belarus President Alexander Lukashenko has signed Decree No. 527, which provides Belarusian Government with a right to issue government bonds of the Republic of Belarus on the Russian market in 2010-2011. The decree is placed on the national legal web portal of the Republic of Belarus. It comes into force the day it is published. The document reads that in order to raise foreign investments, the Council of Ministers is authorized to issue up to RUB15 billion worth of bonds with the maturity of five years on the territory of the Russian Federation in compliance with the agreement on the placement of the Belarusian government bonds denominated in Russian rubles and issued on the territory of the Russian Federation of 23 December 2009. Apart from that, the Government is authorized to approve draft prospectuses, global certificates of bond issuance, agreements dealing with the issuance, floatation, circulation and redemption of bonds. Fees, remuneration and other expenses relating to the issuance, floatation, circulation and redemption of bonds will be covered by the national budget funds that have been allocated to serve the external public debt. The State Control Committee will monitor the implementation of the decree. As Belarusian Finance Minister Andrei Kharkovets had previously told media, Belarus remains ready to issue bonds on the Russian market. “Once the Belarus president signs the relevant decree, we will implement it right away. The Finance Ministry is absolutely ready to issue bonds on the Russian market,” he said. Andrei Kharkovets added that the issuance will be organized by Sberbank of Russia and two other banks. БЕЛТА
Written by belta.by
