The Finance Ministry of Belarus has accused international debt-rating agency Moody's of a provocation that Minsk says is intended to affect its eurobond market.
Belarus tripped toward default as unprecedented sanctions largely cut off both it and ally Russia from international financial markets and reportedly led Minsk to miss a payment on its dollar bonds.
Moody's issued a comment on July 14 suggesting actions by Belarus "constitute a default."
Russia fell into default last month on its foreign debts for the first time since 1918, a result of sanctions and countermoves over its war on Ukraine that have included Moscow's efforts to force outsiders to make or accept payments in rubles rather than dollars or other hard currencies.
Countries that default generally lose access to global investors and are forced to pay higher costs of borrowing due to increased credit risk.
The Belarusian ministry added that it hadn't requested any assessment of Belarus's debt situation from Moody's nor had the agency contacted the ministry on the debt issue.
Belarus is a key Russian ally whose international isolation intensified amid a brutal crackdown after a flawed presidential election in 2020 in which longtime President Alyaskandr Lukashenka claimed re-election to a sixth term.
Lukashenka's regime has since sparked a migrant crisis on its borders with EU members, diverted an international flight to Minsk in an apparent scheme to detain a regime critic, and allowed thousands of Russian troops to stage part of the invasion of Ukraine from Belarusian territory.
The Finance Ministry on July 15 said Moody's accusation of default on sovereign debt was "provocative" and aimed at creating an "artificial shock" around Belarus eurobonds, according to Reuters, RFE/RL reports.
See all the news
All
"Georgia will be faithful to the European path... I serve this path" - Ambassador of Georgia to France
Cavea plus-ის 6 თვის შედეგები და გამოწვევები
Gold is shining in the new geopolitical world
JSC “Rustavi Azot” was sold
We Are Creating An Innovative Co-Working Space In Tbilisi - Sergi Gvarjaladze
NG Georgia - თარგმანი ყველა ენაზე
The Rich Often Enjoy Tax Break - Deputy Minister
Israel Got Acquainted With The Business Tourism Potential Of Georgia
Kettari Foundation became a partner of DATAFEST this year
#ბიზნესსიახლეები BM.GE-სგან / 11.11.2022
საქმის კურსი - 11.11.2022 - კოლაჟი
„1500 ადამიანი უმუშევარი დარჩება“ - 38 ფარმაცევტულ საწარმოს საქმიანობა შეზღუდული აქვს
“პროდუქტებზე ფასების ზრდა იმდენად მაღალი იყო, რომ მცირედი კლება შესამჩნევი აღარ არის” - ივა ჭყონია
საქმის კურსი - 11.11.2022_17:40 - გადაცემა სრულად
მაკროეკონომიკური ტრენდები მსოფლიოსა და საქართველოში
"დღეს, ახალგაზრდები ხედავენ თუ რა ხდება მსოფლიო კულინარიაში, რას ნიშნავს იყო მზარეული, რას ნიშნავს გქონდეს ტიტული და შენი ქვეყანა გააცნო მსოფლიოს კულინარიით" - ლევან კობიაშვილი
EBRD to fund the rehabilitation of 10 metro stations in Tbilisi with €50 million project
Tata Power’s CEO Pays Visit to BMG
Turkiye generates more than $35B tourism income in 1st nine months of 2022
NEQSOL Holding has won defamation case against Communications Commission