Paris Club approved official write-off of Serbia’s debt

The Paris Club of Creditors yesterday approved the formal and official write-off of Serbia’s debt worth $700 million, following the successful completion of a three-year arrangement with the International Monetary Fund Serbian Minister of Finance Mladjan Dinkic said today.

Dinkic said that a letter of confirmation arrived today at the addresses of the Serbian government and the Serbian Central Bank, and explained this means that this year we will pay $65 million less in interests and debts.

Since the first tranche of the debt was to be paid in March, the Serbian government one month earlier managed to save $65 million for this year, while the total sum saved is $700 million, Dinkic added.

The letter of the Paris Club of Creditors was signed by Chairman Xavier Musca, Minister Dinkic said.