Finance Minister Sinisa Mali said that Serbia returned to the international capital market very successfully with the Eurobond two days ago, where it received significantly more favorable conditions in relation to the price of the IMF’s capital, which is not below four percent.
“For the two billion we offered, seven billion euros was in demand.” Over 300 investors came forward and we are the first country to enter the international capital market, which does not have the support of the European Central Bank, because it is not a member of the EU,” Mali told RTS.
He stated that the conditions offered to Serbia were at the level of Slovenia, an EU member.
“We received investors and a premium, having in mind the strength of our economy and the reforms we have implemented. It was very important that the growth rate in the first quarter was five percent and that our public finances were completely stable,” said Mali.
Referring to the comments that an arrangement with the IMF might be better, Mali stated that, when it comes to short-term assistance from the IMF and a quick response, Serbia is no longer among the countries that need that assistance.
“Serbia has large foreign exchange reserves – 13.5 billion euros, stable public finances, and we regularly pay our obligations,” Mali specified.
When it comes to a possible stand-by arrangement with the IMF, he gave the right to Governor Jorgovanka Tabakovic that the arrangement on the capital market is better than the one with the IMF because, as he says, the price of capital with the IMF is not below four percent.
“3.3 percent are here. The price of IMF assistance is higher than the one we received on the capital market,” said the Minister, Nova reports.
