Zeljka Cvijanovic
April 07, 2014
TheSrpskaTimes

The Russian loan offered to Srpska is more favorable than the IMF and is given free of political conditions, said the Prime Minister of Srpska Zeljka Cvijanovic.

She pointed out that the Russian loan opens up opportunities for the rearrangement of obligations, that in that regard it is more favorable, but it is certainly more expensive when the interest rate is isolated.

There are no political conditions and there are no obligations to adopt laws, said Cvijanovic.

She clarified that the public accepted the term “Russian credit”, but that the loan actually refers to arrangements with two commercial banks from different locations in Europe. She added that the Russian Federation lent its support, but that it is not a classic state loan.

The negotiations on the arrangement have been going on for several months, said Cvijanovic, confirming that the public will be made aware of the conditions when the government has made its final decision.

She concluded that the arrangement with the IMF has come to an end and that there will be no consequences of this termination because Srpska has an alternative source of financing and has managed to withdraw funds from Elektroprenos B&H.