Belarusian authorities to re-introduce payments by drafts

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April 22, 2016 19:07

As of May 2015, Belarusian exporters are allowed to sell their products for non-resident customer bills. With this tool, Belarusian producers may legally delay payments to foreign customers for up to one year. As a result, payment terms for delivered products might be prolonged, domestic products might be sold with a discount, exports somewhat increase, support for exporters increase, including through delays in the return of foreign exchange earnings to Belarus. The ‘payment by drafts’ was very popular in Belarus in the late 1990s. Now this payment system may be re-introduced on the domestic market in order to sell products of the most troublesome enterprises.


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