MINSK, Nov 14 (Reuters) - Belarus may sell $700 million to $800 million worth of Eurobonds next year to refinance part of its existing debt, Deputy Finance Minister Maxim Yermolovich said on Thursday.
“External markets are closed for us now in terms of yields,” Yermolovich told a parliamentary committee.
“We hope they will start opening.”
Minsk placed $2 billion worth of Eurobonds in 2010-2011 and had hoped to sell another $500-$600 million this year, but has postponed the placement due to unfavourable market conditions .
The former Soviet republic, which went through a balance-of-payments crisis in 2011 and devalued its currency, the rouble, by 65 percent against the dollar, has been borrowing locally to refinance $3 billion in foreign debt this year. (Reporting by Andrei Makhovsky; Writing by Lidia Kelly; Editing by Robin Pomeroy)