"No choice" but to take WB loan
The Serbian delegation headed by PM Mirko Cvetković "had no choice but to, over the upcoming four year period, take out an additional loan of USD 800mn".
Tuesday, 19.04.2011.
14:42
The Serbian delegation headed by PM Mirko Cvetkovic "had no choice but to, over the upcoming four year period, take out an additional loan of USD 800mn". This is according to a report in today's Belgrade-based Politika newspaper. "No choice" but to take WB loan Cvetkovic visited Washington last week for the session of the IMF and World Bank, "If it had not taken out this additional loan Serbia would in the coming period be a net financier of the World Bank, or rather it would have to give back more money to it than it would be taking", writes the daily. Since Serbia has to pay back USD 900mn in the period between 2011 to 2014, "it means that even with the 800mn of this new debt we will have to pay in another hundred only to stay at zero”, says the article. "Before the members of the negotiating team headed for Washington, the quota offered them by the World Bank officials did not surpass USD 600mn. Therefore, the negotiating platform for our team had as a goal to raise the quota to at least 900 million dollars”, concluded Politika. Mirko Cvetkovic (FoNet, file)
"No choice" but to take WB loan
Cvetković visited Washington last week for the session of the IMF and World Bank,"If it had not taken out this additional loan Serbia would in the coming period be a net financier of the World Bank, or rather it would have to give back more money to it than it would be taking", writes the daily.
Since Serbia has to pay back USD 900mn in the period between 2011 to 2014, "it means that even with the 800mn of this new debt we will have to pay in another hundred only to stay at zero”, says the article.
"Before the members of the negotiating team headed for Washington, the quota offered them by the World Bank officials did not surpass USD 600mn. Therefore, the negotiating platform for our team had as a goal to raise the quota to at least 900 million dollars”, concluded Politika.
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