Serbia pays yet another installment of Tito’s debt in the amount of EUR 70 mln

Yesterday, Serbia disbursed exactly 69.7 million euro from the state budget towards paying the loans from the 1970s and 1980s that Tito’s government got from the biggest global creditors. A further 11.5 million euro was paid out seven days ago.

The loan was approved by the Paris Club about 40 years ago: 54.1 million euro in principal and 15.6 million euro in interest.

Last week, Serbia disbursed 11.5 million euro as a payment of a loan from the World Bank, namely the International Bank for Reconstruction and Development (IBRD): 9.4 million euro in principal and 2.18 million euro in interest.

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During the 1970s and 1980s, Serbia borrowed a total of 8.8 billion euro; today it owes more to the Paris Club, about 1 billion euro, because, as a republic, it owed a total of 4 billion euro four decades ago. The second creditor is the World Bank (700 million euro) or IBRD. Serbia also owes large sums of money to China (15.9 million) and Kuwait (253.1 million).

The Serbian National Bank has confirmed the data, pointing out that the state must repay just over 202 million euro of debt dating from the 1970s and 1980s this year. The central bank also added that, on the basis of old financial obligations, Serbia must regularly pay its debts to Kuwait and China.

(, 23.09.2019)

This post is also available in: Italiano

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