Posted on 04/07/2022 2:28:05 PM PDT by marcusmaximus
Belarus said on Thursday it will pay some of its foreign debts in Belarusian roubles, as Western sanctions limit its ability to deal in foreign currencies.
The country will pay debt and interest in Belarusian roubles on loans raised from the International Bank for Reconstruction and Development (IBRD), European Bank for Reconstruction and Development (EBRD) and Nordic Investment Bank, the Belarusian government said.
(Excerpt) Read more at sports.yahoo.com ...
If it is a technical “default” forced by a foreign regulator, why bother paying at all? The creditors need to sue the US Treasury for compensation.
Are these rubles as good as gold?
Don’t be absurd. The blame is 1000% on the CRIMINAL regime.
Not according to the regular civil law. If the regulator is banning transaction one can’t blame the side unable to complete it. It is just too stupid and a useless PR gesture.
It is also the reason why the USD usage is dropping and the US has troubles selling its debt over last several weeks, likely to result in rate hikes and more inflation, the US Treasury would be unable to export to other countries.
How many pics of U.S presidents smiling hand in hand with Putin do you require
ROFLMAO!!!
This guy is paying his grocer’s tab for a loaf of bread made with Ukrainian wheat.
So at roughly 31 cents to the US dollar that means the Belarusian treasury will soon be empty.
L
Why? Since the transactions are banned, the money stay in Belarus.
“Not according to the regular civil law.”
In what jurisdiction is this ‘regular civil law’? Because in the US such transactions are covered under the United States Code.
https://www.govinfo.gov/app/collection/uscode
22 U.S. Code § 9529 describes sanctions and everything the US is doing so far with regards to the treatment of Russia and Belarus are and have been legal under US law.
“the money stay in Belarus.”
And they can enjoy eating their Rubles.
Here’s a lesson in economics for you. Money is only “worth” what someone will give you in exchange for it. If no one will take it’s just paper with ink on it.
Maybe if you put some ketchup on it….
L
They have a lot to buy in EAES with it.
Why TF is this a “yahoo.sports” story?
Cause that’s where I go for my international trade relations updates?
Exactly right and what you pointed out here is the major flaw in fiat currencies. Aside from what people >believe< they have no intrinsic value of their own.
The flaw becomes greater if a government can gin up currency on a whim to pay their debts. Which these days is every government.
Definitely weird that a reuters international finance story would be in Yahoo sports.
“It is also the reason why the USD usage is dropping and the US has troubles selling its debt over last several weeks, likely to result in rate hikes and more inflation,”
Boris, you are clueless in this area. Bonds are harder to sell at the start of a rate hike cycle. Why would you want to buy a bond now when months from you could buy ones paying a much higher rate?
LOL. I am trading bonds for decades. You are putting the cart before horse.
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