top of page

Technical default of Belarus

Lukashenka signed that he is ready to finally destroy the country’s economy. The countdown to default and the collapse of the economy has begun

What happened?

Lukashenka allowed the so-called "government" to pay off external debts in Belarusian rubles and "mirrored" a similar decree of Putin.

What does it mean?

In short: he announced the inevitability of Belarus falling into a situation of technical, and then actual default — a statement of the fact that Belarus cannot pay its debts.

Where it leads?

1) The very first payment on the external public debt in Belarusian rubles is a gross violation of debt obligations, which immediately puts the country in a situation of technical default. From that moment the so-called "government" will have only 30 days to properly fulfill its debt obligations — in foreign currency.

2) If the obligations are not fulfilled, there will be an actual default. And with it, the right of all creditors to demand from Lukashenka to return all their debts at once. If you do not count the internal debt, but only the external debt, then this is almost $ 18 billion.

3) If the demand is not fulfilled, the process of arrest of property of Belarus abroad will begin. There will also be a final loss of the possibility of attracting external loans. Gold reserves will not help to get out of this situation. According to the officials Belarus has only $ 8.3 billion.

For a country completely dependent on attracting external financing, this will mean a rapid and complete collapse of the economy: a large-scale crisis, inflation and devaluation of the ruble, the conversion of foreign currency deposits into ruble deposits, the complete freezing of all accounts and deposits, a frenzied rise in prices, a reduction in budget revenues, the rejection of social support.

And Lukashenka gave his consent to all this.

For its part, the NAM is doing everything to deprive the regime of any resources available to it, including within the framework of the campaign "Not a cent for war!" and the campaign initiated by us to recognize the occupation of Belarus by Russia.

But the faster and more decisively the Belarusians themselves act, the sooner the occupation, lawlessness and poverty into which the Lukashenka regime plunged our country will end.



bottom of page