Belarus may address collection agencies to reduce foreign accounts receivable
As of August 1st, foreign overdue receivables to Belarusian companies by Russian contractors totalled USD 305 million – a 28% increase since early 2015 – mainly due to the deterioration in the financial health of Russian companies. In the manufacturing industry the number of insolvent companies has increased by 60%. In the future, the state may tighten liability for breach of terms of currency revenue assurance and companies may increase the usage of financial services, such as factoring and reduce grey schemes, such as quasi-exports. If Belarusian companies are unable to recover debts, the state may allow them to request vindication services.
The Belarusian authorities regard the Catholic conference as yet another international event to promote Minsk as a global negotiating platform. Minsk’s proposal to organise a meeting between the Roman-Catholic Church and the Russian Orthodox Church is rather an image-making undertaking than a serious intention. However, the authorities could somewhat extend the opportunities for the Roman-Catholic Church in Belarus due to developing contacts with the Catholic world.
Minsk is attempting to lay out a mosaic from various international religious, political and sportive events to shape a positive image of Belarus for promoting the Helsinki 2.0 idea.
Belarus’ invitation to the head of the Holy See for a meeting with the Patriarch of the Russian Orthodox Church should be regarded as a continuation of her foreign policy efforts in shaping Minsk’s peacekeeping image and enhancing Belarus’ international weight. The Belarusian authorities are aware that their initiative is unlikely to find supporters among the leadership of the Russian Orthodox Church in Moscow. In Russia, isolationist sentiments prevail.
In addition, for domestic audiences, the authorities make up for the lack of tangible economic growth with demonstrations of growth in Minsk’s authority at international level through providing a platform for religious, sportive and other dialogues.