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10. December 2002 - Tuesday |
Yugoslavia’s foreign debt over 8 billion dollars
BELGRADE - Acting Yugoslav Finance Minister Veroljub Dugalic has said that, after its re-scheduling, Yugoslavia’s foreign debt amounts some 8.6 billion dollars.
Participating in the round table “International Financial Relations – situation and prospects” at the Institute of foreign policy and economy Dugalic explained that it was difficult to say if this was a high debt because there are no criteria that could help answer this question.
Dugalic said that the debt amounts some 70 per cent of the gross national income.
The repayment of the debt which has been re-scheduled for 2006 and 2008 will not significantly affect the country’s economic situation.
"The positive thing is that we were given better terms – lower interest rates – during the re-scheduling of the debt”, assessed Dugalic.
Negotiations with the Paris club of creditors were extremely successful because 66 per cent of Yugoslavia’s debt has been written off, said Dugalic expressing hope that similar terms would be agreed upon in negotiations with the London club of creditors.
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