Russia Does not Deny Stabilization Loan to Belarus, Ambassador Surikov Says

Russia does not refuse to provide a stabilization loan for Belarus, Ambassador Aleksandr Surikov said at Friday's news conference in Minsk.

"One and a half billion dollars was officially requested," said Mr. Surikov. "However, media outlets now speak of a billion. The cash deficiency for purchasing gas and oil has apparently decreased."

The ambassador emphasized the need "to work" to obtain the loan. According to him, it is above all necessary to "substantiate the repayment of the loan." "There could be the government's guarantees or the repayment of the loan could be guaranteed by a property complex. Words of honor don't work here," Mr. Surikov said, stressing that Russia's budgetary loan could be issued for one year at an interest rate of one-fourth of the central bank's rate. "There also could be bank stabilization loans," he added.

On February 22, the Belarusian government asked Moscow for a $1.5-billion stabilization loan, citing the need to plug holes in the budget caused by a hike in energy prices. A week later, Russian Finance Minister Aleksei Kudrin said that Moscow would decide on granting the requested loan within two months.