Friday 13 September 2013

Serbia seeks to borrow up to $3 billion from UAE: official | Reuters

Serbia seeks to borrow up to $3 billion from UAE: official | Reuters:

"A top Serbian official said on Thursday he had asked the United Arab Emirates for a low-interest, long-term loan to repay some of the country's debts and invest in its ailing economy.

Serbia's economy is expected to grow about 2.5 percent this year, but is weighed down by a rising deficit of 4.7 percent of GDP and debt at 65 percent.

Belgrade is planning to tap markets with a $1 billion Eurobond this year and borrowing on the domestic market. It has also sought sovereign creditors including China, Russia and the United Arab Emirates."

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