Belarus’ external debt in the context of the pandemic and ways to resolve it

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The changes in the amount of the external debt of Belarus depending on various factors are analyzed. The study found that the consequences of the epidemic COVID-19 had a significant impact on the increase in the amount of external debt. In addition, political protests against the government have a special weight in the reasons for the growth of Belarus’ external debt, since their consequences significantly reduced the level of confidence on the part of foreign investors, which led to a fall in the ruble. The role of foreign countries as the main creditors in the external debt of Belarus, as well as in the economy of Belarus as a whole is examined, and the importance of the Belarusian “friendship” with Russia is considered. In conclusion, an assessment of the structure of the Belarusian economy and methods of its regulation is carried out, and then possible ways of settling the Belarusian debt are presented.

About the authors

Anna D. Gracheva

Financial University under the Government of the Russian Federation

Author for correspondence.

student, Faculty of Economics and Business

49 Leningradskii Prospekt, Moscow, 125993, Russian Federation

Elena A. Miroshina

Financial University under the Government of the Russian Federation


Candidate of Economic Sciences, Associate Professor, Faculty of International Economic Relations

49 Leningradskii Prospekt, Moscow, 125993, Russian Federation


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Copyright (c) 2021 Gracheva A.D., Miroshina E.A.

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