Government securities for debts of Vojvodina and local self-governments - Outstanding liabilities to private businesses can be reported until 30 April 2013

The Ministry of Finance and Economy invited local self-governments and the autonomous province (AP) of Vojvodina on Saturday (5 January 2013) to report until 30 April 2013 all their outstanding liabilities to the private sector for the borrowings they took out to finance capital investments and, thus, join a Program to meet these liabilities.

The Ministry of Finance and Economy has suggested a model for meeting these liabilities by issuing government securities to private businesses, which then can collect their receivables from local authorities by selling those securities.

Namely, the state will assume all outstanding liabilities of local authorities to private companies for capital projects, taken out prior to 31 October 2012, and then issue three-year government securities to these companies.

All interested local authorities should submit to the Ministry of Finance and Economy their creditors' statement that they agree to collect their receivables in the proposed manner.

This public invitation was published Friday, January 4th in the Official Bulletin of the Republic of Serbia and daily newspapers Politika and Vecernje Novosti. It can also be found on the website of the Ministry of Finance Economy - Treasury Administration and Public Debt Administration, reads a release issued by the Ministry of Finance and Economy. navedeno je u saopštenju Ministarstva finansija i privrede.