Who is Serbia mostly borrowing money from?

Although Serbia’s debt to the IMF increased by 1.17 billion euros compared to last year and the amount of loans taken from commercial banks has tripled, the International Monetary Fund is only the fourth largest creditor of Serbia’s public debt and the banks are the seventh.

As of July 31 of this year, Serbia had a debt of 35.07 billion euros, which is 50.07 percent of the national GDP, according to the official data of the Ministry of Finance-

According to the report compiled by the Public Debt Administration, Serbia’s largest creditors are the buyers of Eurobonds to which our country owes a total of 8.9 billion euros, followed by buyers of long-term government bonds in dinars to whom we owe 7.04 billion euros.

Loans that Serbia repays to foreign governments are in third place in terms of the value of public debt and have amounted to 3.34 billion euros.

The International Monetary Fund is only the fourth largest creditor of Serbia as the country owes the IMF a total of 2.4 billion euros.

Next is the Chinese Export-Import Bank, to which we are paying off a slightly smaller debt – 2.37 billion euros.

Another international financial institution, which occupies the sixth place on the list of the largest creditors and to whom Serbia owes 2.2 billion euros, is the International Bank for Reconstruction and Development (IBRD).

Serbia pays almost the same amount to various commercial banks – 2.15 billion euros, and we owe slightly less to the European Investment Bank (EIB) – 1.8 billion

Serbia individually owes less than one billion euros to other creditors.

A year earlier, Serbia’s public debt was 3.61 billion euros lower and amounted to 31.46 billion euros, i.e. 53.5 percent of the national GDP.

In December 2022, according to data collated by the National Bank of Serbia, the Serbian budget received 1 billion dollars from the Abu Dhabi Development Fund.

When it comes to debt owed to the IMF, in December 2022, the Serbian government concluded a new arrangement with this international institution, worth 2.4 billion euros.

This resulted in Serbia (as of July 31, 2023) owing 2.4 billion euros to the IMF, while last year it owed 1.23 billion euros.

Data from the Public Debt Administration also show that the loans that the Serbian government took from commercial banks in late July last year amounted to 712 million euros and now they jumped to 2.15 billion euros. This means that this debt has tripled in 12 months.

(N1, 07.09.2023)


This post is also available in: Italiano

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