Serbia seeks billions in loans from UAE amid bankruptcy fears – FT.com

Serbia plans to borrow billions from the United Arab Emirates as the country’s deputy prime minister warned that it could face bankruptcy without urgent steps to cut public sector wages.

financial_times_logo

The comments from Aleksandar Vucic – the deputy premier widely seen as the most powerful man in Serbia’s coalition, formed in July last year – came before the government was due to unveil deep austerity measures on Tuesday. Mr Vucic said Serbia expected to receive a low-interest $1bn UAE loan on “favourable terms” this year, with further loans taking the total to $2bn-$3bn by the end of 2014.

via Serbia seeks billions in loans from UAE amid bankruptcy fears – FT.com.

Advertisements
Tagged with: , ,
Posted in Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Make a Donation

The San Diego World Affairs Council is a non-profit 501(c)(3) organization (tax ID 95-2584553). All contributions are tax-deductible.

Enter your email address to follow this blog and receive notifications of new posts by email.

%d bloggers like this: