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02. November 2002 |
Debt transfer till stabilization of banks, Dugalic
BELGRADE - The Yugoslav government decision on the transfer of the public debt of Yugoslavia to the Republic of Serbia from August 31, under which 16 commercial banks are obligated, on the basis of the debt to the Paris and London Clubs of creditors, to issue shares that will temporarily be at the disposal of Serbia, will help clear balance sheets and the stabilization of banks, Acting Yugoslav Finance Minister Veroljub Dugalic told Tanjug on Saturday.
He explained that Serbia only temporarily became a part owner of the 16 commercial banks, as it took upon itself to offer the shares of the banks for sale within six months, first to the shareholders and then to the stock exchange.
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