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A:
Serbia regularly services foreign creditors
Belgrade,
25 October 2011
Prime Minister and Minister of Finance Mirko Cvetkovic stated today that the Bill on regulating relations between Republic of Serbia and its debtors will not cause the increase in the national debt since Serbia has already included this debt burden in its obligations which are met on regular basis.
Presenting the Bill before the Parliament Cvetkovic pointed out that adoption of the bill will show the real debt in the debt books, that being the essential goal of the bill.
The debts in question were accumulated before 1990 and were discussed with the Paris Club and the London Club in 2002 and 2003 when Serbia agreed to inherit the debt provided appropriate abatement was granted. Explaining the Bill on Games of Chance the Prime Minister said that it was necessary to pass a new law in order to ensure liberalisation of the market, implement electronic monitoring and stress the social responsibility for the minors.
Speaking of the Agreement on loan for granting individual loans between KfW bank from Frankfurt, Serbia and National Bank of Serbia Cvetkovic said that the loan in question is €100mn worth with the deadline for payment being five to seven years.
The funds provided by this loan will be used for local infrastructure and smaller projects in energy efficiency field.
The debts in question were accumulated before 1990 and were discussed with the Paris Club and the London Club in 2002 and 2003 when Serbia agreed to inherit the debt provided appropriate abatement was granted. Explaining the Bill on Games of Chance the Prime Minister said that it was necessary to pass a new law in order to ensure liberalisation of the market, implement electronic monitoring and stress the social responsibility for the minors.
Speaking of the Agreement on loan for granting individual loans between KfW bank from Frankfurt, Serbia and National Bank of Serbia Cvetkovic said that the loan in question is €100mn worth with the deadline for payment being five to seven years.
The funds provided by this loan will be used for local infrastructure and smaller projects in energy efficiency field.
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