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Raiffeisen Bank is ready to negotiate Belarus government bonds issued before the elections

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The NAM [National Anti-Crisis Management] continues its campaign for early redemption of Belarus' government bonds by the investment funds that bought them in the summer of 2020.

The NAM has sent letters to all investment funds that hold Belarus bonds, the three investment banks that placed the bonds, and the International Monetary Fund (IMF). Among the investment banks involved in the government bond placement was Austria’s Raiffeisen Bank.

Raiffeisen Bank, as well as two other investment banks, tested Belarus' bonds before they were issued, that means that they assessed the riskiness of the bonds.

In the appeal we called on Raiffeisen to:

1) sever all relations with the illegitimate regime as well as the state-owned companies that support it and are involved in human rights abuses, and to check the intended use of the money received from the sale of state bonds;

2) suspend correspondent relationships with state-owned banks until such time as these banks stop providing financial services to sanctioned individuals and entities;

3) admit that the issuance of Belarus-2026 and Belarus-2031 Eurobonds was unlawful and should not have taken place. In this case investors would have grounds to demand an early redemption of the bonds.

4) Make a public statement on its position regarding its future activities and relations with organisations and individuals involved in gross human rights abuses in Belarus.

At the same time, we understand that such serious actions may also entail costs for Raiffeisen Bank: reputational and possibly material.

Raiffeisen Bank representatives have contacted the NAM — the company is ready to negotiate with democratic forces. Negotiations on the situation with Belarus' government bonds are scheduled for next week.

The National Anti-Crisis Management is continuing its campaign to work with the investment funds that bought $ 1.25 billion worth of Belarusian Eurobonds before the election. Belarus' government bonds have already been relinquished by 4 Danish investment funds that bought Eurobonds before the election.

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