Promotion of Belarus in the Country Risk Classification of the Organization for Economic Cooperation and Development (OECD) will bring down the cost of loans for Belarusian companies, reports the country’s Ministry of Finance.
“Belarus’ promotion to the sixth group in the OECD classification will help reduce export credit insurance provided by foreign banks to Belarusian importers, which, in turn, will lower the cost of loans for the latter,” the press service underlined. The OECD updated its Country Risk Classification on 26 January, the Finance Ministry recalled. The new version saw Belarus’ position improve as the country’s ranking moved from 7 to 6.
This was made possible due to the well-coordinated effort of the government and the National Bank to ensure macroeconomic stabilization and financial stability in the country, and also due to the high payment discipline of Belarusian importers.
This is the first time Belarus’ position in the classification has improved since 1999.
