Serbia to take favorable loans, minister says
Finance and Economy Minister Mlađan Dinkić says the country will borrow under favorable terms so that it would be able to survive until fiscal consolidation.
Sunday, 29.07.2012.
14:05
NOVI SAD Finance and Economy Minister Mladjan Dinkic says the country will borrow under favorable terms so that it would be able to survive until fiscal consolidation. "We will borrow anywhere where we can get favorable terms," said Dinkic, specifying the country would have to take out loans wherever it could get good terms at the time of the global economic crisis. Serbia to take favorable loans, minister says He told Novi Sad-based daily Dnevnik that such loans were necessary because he had no intention of raising taxes "sky high" to fund pensions and salaries, as this would be the death of the Serbian economy. Dinkic said domestic business banks would one of the sources for short-term borrowing through the sale of treasury bills, adding that the previous government had intended to sell Eurobonds and that he would proceed with this plan. The minister said he also planned to make bilateral arrangements with friendly countries such as Russia, which had already expressed readiness to reroute to budget assistance some USD 200-300mn from the loan it approved to the Serbian railways during the previous government. “We will have similar talks with others as well,” said Dinkic, adding that talks with the International Monetary Fund (IMF) and the World Bank would also resume. Mladjan Dinkic (FoNet, file) Tanjug
Serbia to take favorable loans, minister says
He told Novi Sad-based daily Dnevnik that such loans were necessary because he had no intention of raising taxes "sky high" to fund pensions and salaries, as this would be the death of the Serbian economy.Dinkić said domestic business banks would one of the sources for short-term borrowing through the sale of treasury bills, adding that the previous government had intended to sell Eurobonds and that he would proceed with this plan.
The minister said he also planned to make bilateral arrangements with friendly countries such as Russia, which had already expressed readiness to reroute to budget assistance some USD 200-300mn from the loan it approved to the Serbian railways during the previous government.
“We will have similar talks with others as well,” said Dinkić, adding that talks with the International Monetary Fund (IMF) and the World Bank would also resume.
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