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Belgrade – Finance Minister Sinia Mali said that, for the second time in 2020, Serbia entered the international financial market and issued a $ 1.2 billion bond.
Source: Tanjug
Photo: Tanjug, Zoran Zestic
For the second time this year, Serbia issued a bond to roll over the most expensive bond issued in 2011, Mali said.
In the Serbian Assembly, Mali noted that demand was six times greater than supply, adding that more than 200 of the world’s largest investors came to buy the bond, stating that it was a historic result for Serbia and its citizens.
Under his regime, the bond was issued at a rate of 2.125 percent, while the bond rate for 2011 was 7.25 percent.
“It tells you about the confidence that foreign investors have in Serbia and the economic policy we are following, as well as the best indicator that the GDP growth rate, which will be the best in Europe this year, shows its result,” he said. the minister.
Mali explained that Serbia could have saved 500 million euros and built, for example, five clinical centers for that money, so the 2011 bond was issued at an interest rate of 2.125 percent.
The minister says that after hedging the dollar to euros, a rate of 1,066 percent was obtained. He claimed that such a low interest rate had never happened in the country’s history, additional savings of 11.6 billion dinars have been made.
“We are not increasing public debt, we are paying off the loans and paying back the bonds that someone else took before us, which were due especially in September 2021, and we are reducing the cost of our public debt. I am very proud of that,” he said Mali.
The minister noted that Serbia had done the right thing yesterday, which confirmed the correctness of economic policy, stating that this was confirmed by the international financial market, the London Stock Exchange and international investors.
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