World Bank assigns Belarus loans to non-performing status
Belarusian dictator Alexander Lukashenko (Photo:Pool via REUTERS)
The World Bank has placed all loans made by its International Bank for Reconstruction and Development division to Belarus into non-performing status, the World Bank said in a press release on Oct. 17.
"This action has been taken in accordance with the World Bank’s established procedure of placing all IBRD loans to, or guaranteed by, a country in non-performing status if payment on any loan is overdue by more than six months,” the Bank wrote.
It noted that Belarus' overdue payments amounted to $68.43 million, and its outstanding principal of $967 million amounted to 0.42% of IBRD’s total outstanding loans.
On March 2, the World Bank cancelled all of its programs in Belarus. There has been no new lending approved to Belarus since May 2020.
In April, Belarusian dictator Alexander Lukashenko announced that Eurobond payments would be done in Belarusian rubles due to Western sanctions imposed after Russia’s full-scale invasion of Ukraine.
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