Serbian Finance Minister, Sinisa Mali said that the amendments to the Law on Capital Market would enable the base and the structure of potential investors in domestic securities to increase.
Explaining the amendments at the National Assembly of Serbia, Mali said that they would result in harmonization of the Law on Capital Market with the Law on Public Debt and that foreign investors and funds would be able to invest in domestic securities and the Serbian capital market in a quick and efficient way.
He reminded that Serbia had returned to the international capital market the previous year with two very successful issues of Euro bonds, at all-time low interest rates.
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“In November, we issued EUR 550 million in bonds with a yield of 1.25% and before that, in June, we issued 10-year bonds in the amount of EUR 1 billion with a yield of 1.619% and a six times larger demand,” Mali said, as reported on the government’s website.
According to him, an efficient capital market and investors’ trust are important requirements for further economic development of the country.
Mali also reminded that Serbia had opened Chapter 4 (in EU accession negotiations) not too long ago, pertaining to the free flow of capital, and added that the country was thereby acknowledged as meeting the requirements for connecting with EU markets after it joins the Union.
The minister announced that 20-year Euro government bonds would be issued the next day, the first such issue, as Euro-denominated bonds had previously only been issued for periods of 15 years and below.
Mali added that Serbian bonds had been included on the list for potential inclusion in the JP Morgan Emerging Market Bond Index.
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