As Euromoney went to press there was widespread speculation that Belarus would be forced to devalue the rouble for the second time in as many years, amid a spiralling current account deficit and dwindling FX reserves.
Russian financial assistance is likely to play a key role in Belarus avoiding devaluation and a possible sovereign debt default. However, any funding from Moscow is likely to come with strings attached and might lead to prize Belarusian assets falling into Russian hands. Belarus is seeking a $1 billion loan from Moscow and $1.7...
