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20. May 2002 |
Eurobond issue to repay hijacked savings
BUCHAREST, Sunday – The Serbian Government plans to issue three
billion euros in Eurobonds this year to fund the repayment of
7.5 billion Deutschemarks frozen by the Milosevic regime, Finance
Minister Bozidar Djelic said today.
Djelic, speaking in Bucharest where he is attending the annual
meeting of the European Bank for Reconstruction and Development,
said the bonds would mature in up to fifteen years.
“The law is ready, we plan to go in the second half,” said Djelic,
adding that Serbia was in talks with emerging market bond index
providers in an attempt to ensure the bonds were included in
the indexes fund managers use as a guide when allocating their
assets.
During the Milosevic era, Yugoslavia appropriated private hard
currency savings, using the money to fund its wars against republics
seeking secession. (Reuters)
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