Country Report Belarus December 1998 Main report

Business news: Russ agrees to receive Belarus. goods in exch for gas

The Russian government has approved an agreement with Belarus stipulating that shipments of foodstuff and other goods would be accepted in lieu of money for 80% of Belarus's outstanding debt for gas supplied by Russia. This decision will help the cash-starved Belarusian government in the coming year, as it owes an estimated $230m for previous gas shipments. This agreement will further increase the share of barter transactions between the two countries, which already comprised 31.9% of Belarusian exports and 26.1% of imports in the first eight months of 1998. Barter is already especially prominent in trade with Russia, accounting for approximately 60% of the total volume of trade in August.

© 1998 The Economist lntelligence Unit Ltd. All rights reserved
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