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15. August 2002 |
Serbia to issue bonds to repay debt to savers - minister
BELGRADE - Serbia said on Thursday it would issue on August 19 bonds to the value of 4.2 billion euros to cover some 7.5 billion German marks worth of private savings frozen in the early 1990s, Finance Minister Bozidar Djelic told a news conference.
He said Serbia will be spending 1 - 1.5 percent of its gross domestic product each year to service the debt. It has already spent 198 million euros to repay the maturities so far.
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