June 2005 – Serbia owes over 12 billion USD

Total public debt of Serbia, including direct and indirect obligations, on the last day of April 2005, according to data of the Ministry of Finance, amounted to 12.6 billion USD, and in comparison with the beginning of 2004, it is cut by over 1 billion USD, thanks to, first of all, reduction of foreign debts.

Major part of the debt is related to direct obligations, major part of which are foreign debts, concerning the fact that Serbia owes somewhat more than 6.9 billion USD to the world. The biggest part of foreign debts is related to the Paris and the London Club. Serbia owes over 3.7 billion USD to these two clubs. They are followed by 3 IBRD credita worth over 2.3 billion USD. The debt to World Bank on the basis of IDA loans amounts to over 426.4 million USD.

Total balance of foreign debts decreased by 1.3 billion USD against the start of 2004 thanks to the fact that obligations toward the London Club were settled in the meantime, although some obligations, such as ones towards Paris Club and on the basis of IDA loans, were increased by few hundreds million USD in that period.

Internal debt exceeded amount of 5.2 billion USD – this debt is reduced only by some 50 million USD against the beginning of 2004. Major part of the obligations is related to old foreign currency savings (4.7 billion USD in April 2005). There are also obligations towards National Bank of Serbia on the basis of long-term securities worth over 312.4 million USD.