Citigroup and Citibank refused to be payment and transfer agents for Belarusian Eurobonds
The Ministry of Finance of the Republic of Belarus has started searching for successors to carry out operations with Eurobonds.
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About it informed Ministry of Finance of the Republic of Belarus.
“The Ministry of Finance informs that Citigroup Global Markets Europe AG and Citibank, NA, London branch notified on July 7 of this year that it will be used as a registrar, financial, payment and transfer agent in respect of Eurobonds of the Republic of Belarus. This decision enters into in force within 60 days,” the statement said.
The department added that the Ministry of Finance is currently looking for successors to carry out operations with Eurobonds of the Republic of Belarus.
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We remind you that Belarus has decided to fulfill its debt obligations under Eurobonds in the national currency. After this contagion, the risk of technical default increased. Thus, Belarus may face a technical default on its Eurobonds as early as July 13.