FinMin says Serbia saved millions through swap transaction

NEWS 05.02.2021 14:39

The Finance Ministry said on Friday that Serbia has saved 16.5 million Euro by reprogramming a debt through a swap transaction with the Kuwait Investment Authority, converting Dollars to Euro at a significantly lower interest rate.

Serbia will repay the reprogrammed debt, contracted at an interest rate of 1.5 percent, in Euro at an interest rate of 0.393 percent saving some 16.5 million Euro, a press release said.

It said that the share of Dollars in the overall public debt has been reduced from 13.1 to 12.3 percent.