Q:
A:
Early repayment of half of debt to London Club of Creditors tomorrow
Belgrade,
29 April 2013
Minister of Finance and Economy Mladjan Dinkic ordered that the Ministry tomorrow makes an early payment of half of the remaining debt to the London Club of Creditors.
Serbia's debt to the London Club is now $860 million. The amount of early repayment totals $400 million.
Thanks to the early repayment and repayment of the regular installment, the country’s total debt will be reduced by $436 million.
The government of Serbia will continue to implement the strategy of early repayment of expensive loans, with a fiscal policy that contributes to reducing the interest rates on the public debt, on both the international and domestic capital markets.
The interest rate on the London Club debt is 6.75%, which is by about two percentage points up compared to the interest rate by the Ministry of Finance achieved by selling Eurobonds in February this year.
Thanks to the early repayment, Serbia will save RSD 1.1 billion and significant savings will be made in the next several years bearing in mind that the country will have to allocate less money for payment of interest rates.
This will bring significant savings in the coming years, in the amount of RSD 1 billion to RSD 2 billion a year, the statement added.
Thanks to the early repayment and repayment of the regular installment, the country’s total debt will be reduced by $436 million.
The government of Serbia will continue to implement the strategy of early repayment of expensive loans, with a fiscal policy that contributes to reducing the interest rates on the public debt, on both the international and domestic capital markets.
The interest rate on the London Club debt is 6.75%, which is by about two percentage points up compared to the interest rate by the Ministry of Finance achieved by selling Eurobonds in February this year.
Thanks to the early repayment, Serbia will save RSD 1.1 billion and significant savings will be made in the next several years bearing in mind that the country will have to allocate less money for payment of interest rates.
This will bring significant savings in the coming years, in the amount of RSD 1 billion to RSD 2 billion a year, the statement added.
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