Q:
A:
Issuance of securities for debt to London Club of creditors
Belgrade,
24 March 2005
Serbian Minister of Finance Mladjan Dinkic said that the government has adopted a bill on issuance of securities following the agreement with the London Club of creditors and that it will be sent to the parliament for enactment.
Mladjan Dinkic (left) and Predrag Bubalo
At a press conference after the government’s session, Dinkic said that it is Serbia’s duty to carry out the agreement on writing off $1.7 billion in debt, and added that the securities will be issued for a 20-year period.
Serbia will issue securities with maturity dates between May 1, 2010 and November 1, 2024 in the total amount of $1.08 billion, he said.
Once the parliament enacts the law, the replacement of the old debt for the newly issued securities will practically conclude the debt rescheduling to the London Club of creditors, Dinkic said.
At today’s session, the government adopted restructuring programmes for five public companies: NIS, ZTP, PTT, Belgrade Airport and Jat Airways, Dinkic said, adding that the government will decide on the restructuring of EPS, Telekom and Srbija Sume next week.
The government decided to earmark funds for reconstruction of a military building, at 9 Nemanjina Street, that was heavily hit in the 1999 NATO bombardment.
The government also decided to offer military institution Karadjordjevo and the building of the military technical institute in Belgrade on tender sale, Dinkic said.
Serbian Minister of Economy Predrag Bubalo announced loan opportunities for the unemployed in the amounts of €5,000 to €20,000 in order to start their own business. The loans will have a repayment period of between three and five years, a one-year grace period, and a 1 percent interest rate on an annual level, according to Bubalo.
The government also decided to stimulate small and medium-sized enterprises in underdeveloped regions with loans amounting to 800 million dinars, Bubalo said.
The funding for these two programmes will be provided from the Development Fund, Bubalo added.
Serbia will issue securities with maturity dates between May 1, 2010 and November 1, 2024 in the total amount of $1.08 billion, he said.
Once the parliament enacts the law, the replacement of the old debt for the newly issued securities will practically conclude the debt rescheduling to the London Club of creditors, Dinkic said.
At today’s session, the government adopted restructuring programmes for five public companies: NIS, ZTP, PTT, Belgrade Airport and Jat Airways, Dinkic said, adding that the government will decide on the restructuring of EPS, Telekom and Srbija Sume next week.
The government decided to earmark funds for reconstruction of a military building, at 9 Nemanjina Street, that was heavily hit in the 1999 NATO bombardment.
The government also decided to offer military institution Karadjordjevo and the building of the military technical institute in Belgrade on tender sale, Dinkic said.
Serbian Minister of Economy Predrag Bubalo announced loan opportunities for the unemployed in the amounts of €5,000 to €20,000 in order to start their own business. The loans will have a repayment period of between three and five years, a one-year grace period, and a 1 percent interest rate on an annual level, according to Bubalo.
The government also decided to stimulate small and medium-sized enterprises in underdeveloped regions with loans amounting to 800 million dinars, Bubalo said.
The funding for these two programmes will be provided from the Development Fund, Bubalo added.
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