Last installment of debts due by 2020: We just paid back €21 million of loans taken out by Tito

Almost 4 million went for the interest alone

Serbia has just paid an installment in the amount of 21.74 million euros, Telegraf Biznis has learned. Early yesterday morning, December 15, it was our turn to pay back the old debt. Also, as confirmed for our portal, this is the last installment for 2020.

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As we have learned, this is a loan that Serbia took out from the World Bank. It was taken by our country during the time of the former Yugoslavia.

"The only obligation due by the end of 2020 is that for repayment of liabilities on rescheduled debts taken in the 1970s and 1980s from the World Bank - on December 15, 2020, under Consolidation Loan B, in the amount of 21.74 million euros," Telegraf Biznis was told by the National Bank of Serbia.

As they explained, out of that amount, 17.87 million euros refer to the principal and 3.87 million euros to the interest.

In September, we already paid back due loans worth 75.3 million euros to the Paris Club of creditors. As much as 13 million euros of that was the interest. Two weeks later, the also paid back an installment to the World Bank.

This is about the repayment of liabilities on rescheduled debts, those toward the World Bank, which mature every year (under Consolidation Loan B).

The National Bank of Serbia also stated that in the period from 2020 to 2024, about 213 million euros will be repaid annually, while starting in 2025, about 86 million euros will be repaid each year.

Liabilities toward the Paris Club of creditors, according to the repayment plan, are due by 2041, toward the World Bank by 2031, and by 2034 toward Kuwait.

All these loans were taken out by prime ministers of (former Yugoslav president) Josip Broz Tito from world creditors during the 1970s and 1980s.

(Telegraf Biznis)