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Home/News/Serbia will seek a 90-day payday moratorium from banks

Serbia will seek a 90-day payday moratorium from banks

Serbian President Aleksandar Vucic has stated that the state will require commercial banks to understand their loan repayment and request a moratorium, ie deferral of the loan repayment for 90 days.
Vucic said that the state would provide loans from the Development Fund with an interest rate of one percent, adding that there would be other measures concerning the banks.
The state, he says, has 13, 5 billion euros in foreign exchange reserves, five billion more than we had a few years ago.
“So, we have never been stronger”, Vucic said.
He points out, for example, that the Croatian National Bank recently defended the kuna with 397 million euros, but that the kuna nevertheless fell by 1.1 percent.
“We are ready to protect the course, to protect full stability in impossible conditions. We have 30.5 tonnes of gold. What is important is that we hold 9 tonnes of gold in Bern, Switzerland so that we can charge it at any time so that we can at any time we could have effective money right now”, Vucic said.
He told citizens that they should not be scared and that our monetary and fiscal stability were beyond question.
“If I am happy about something in this accident, it’s that we have built a system in the last five years that is ten times stronger and ten times better than it used to be”, he said.
He said that National Bank of Serbia Governor Jorgovanka Tabakovic will come out with new solutions in the coming days.
“But we will ask commercial banks to have an understanding of the 90-day payday moratorium, which is three months, how long the corona crisis will last, but there will be other bank-related measures”, Vucic said, RTV reports.