LONDON - Investors face a classic ‘dictator dilemma’ in Belarus - hold on to securities that benefit from the status quo in a brutal regime, or sell them and sever their ties - but which way they go may depend largely on Vladimir Putin’s Russia.
The announcement has triggered days of widespread protests and brought threats of stringent Western sanctions. On Thursday, however, the pressure on Lukashenko appeared to intensify, and BlueBay’s veteran emerging market strategist Tim Ash wrote that the situation felt like Ukraine in 2014 at the time of its ‘Colour Revolution’.
Belarusian authorities released detained demonstrators on Friday after issuing a rare public apology in a bid to quell the protests, while European Union foreign ministers meet later on Friday to discuss possible new sanctions. Another major risk is that Lukashenko could throw in the towel and Russian President Vladimir Putin could pull his support and financial backing that remains in place despite worsening ties of late between the two leaders.
Even at current prices, $2.5 billion of upcoming bond payments could leave the government with little over $7 billion in hard currency reserves by the end of the year - only enough to cover its financing needs for around two months in a worst case scenario.
Putin again
Putin is 21st century HITLER
The 'dictator' who didn't take the IMF money, huh? Yeah, that's a dictator to the international cabal.
Better the dictator you know ...
What are we talking about in reference to Vlad and what’s going on on Vlad s side of the globe I.e. Russia. The United States of America and Russia s Government are two totally different entities. If Russia decides to go full dictator that’s their biz if it works well for them
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