Early repayment of half of London Club debt

Economy Minister Mlađan Dinkić has instructed his ministry to on Tuesday make an early payment of half of the remaining debt to the London Club creditors.

Izvor: Tanjug

Tuesday, 30.04.2013.

10:15

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BELGRADE Economy Minister Mladjan Dinkic has instructed his ministry to on Tuesday make an early payment of half of the remaining debt to the London Club creditors. Serbia's debt to the London Club amounts to USD 860 million. Thanks to the early repayment and repayment of a regular installment, the country's total debt will be reduced by USD 436 million. Early repayment of half of London Club debt The Serbian government will continue to implement the strategy of early repayment of expensive loans, with a fiscal policy that contributes to reducing the interest rates on public debt, on both the international and domestic capital markets, according to a statement from the ministry. The interest rate on the London Club debt is 6.75 percent, up by about two percentage points against the interest rate the Ministry of Finance achieved by selling Eurobonds in February this year. The early debt payoffs will bring about savings in this year's budget of EUR 1.1 billion due to lower interest rate payments. The savings will be considerable in the coming years, to the amount of between RSD 1 and 2 billion annually, says the release. Tanjug

Early repayment of half of London Club debt

The Serbian government will continue to implement the strategy of early repayment of expensive loans, with a fiscal policy that contributes to reducing the interest rates on public debt, on both the international and domestic capital markets, according to a statement from the ministry.

The interest rate on the London Club debt is 6.75 percent, up by about two percentage points against the interest rate the Ministry of Finance achieved by selling Eurobonds in February this year.

The early debt payoffs will bring about savings in this year's budget of EUR 1.1 billion due to lower interest rate payments.

The savings will be considerable in the coming years, to the amount of between RSD 1 and 2 billion annually, says the release.

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