Minister Djelic announces the issue of bonds to finance payment of debts from old foreign currency savings accounts

At the annual two-day meeting of the European Bank for Reconstruction and Development (EBRD), which began in Bucharest yesterday, Minister of Finance and Economy Bozidar Djelic participated in a seminar on the subject of capital markets in southeastern Europe and ways in which the EBRD and other investors can support the development of countries in the region.

EBRD representatives at the meeting lauded Minister Djelic as one of the key figures shaping the reforms currently underway in Serbia. Minister Djelic announced that the government of the Republic of Serbia plans to begin an issue of Eurobonds worth E3 billion this year to finance the payment of DM7.5 billion in old foreign currency accounts. He explained that the bonds will mature in 15 years, and that preparation of a law regulating the issue is nearing completion.