Interest rates on Belarusian loans in national currency hit 100 per cent.

Text of report in English by Belarusian privately-owned news agency Belapan

Minsk, 17 November: Interest rates on bank loans denominated in the Belarusian rouble have reached 100 per cent after the National Bank of Belarus raised its base refinance rate from 35 to 40 per cent on 11 November.

The rates hit the record level for quick loans issued with no collateral within an hour or two after the individual submits the application. In particular, Belinvestbank charges the rate for its quick loans totalling five million roubles (571 dollars). The bank's rate increased from 87.5 per cent earlier this year.

Interest rates on consumer loans offered by major banks …