SARAJEVO, Nov 14 (Hina) - Representatives of successor-states to former Yugoslavia agreed at a two-day meeting in Sarajevo on measures to be taken with the aim of completing the division of the former state's property in line with a
succession agreement, signed in June this year. The main topic of the Sarajevo meeting was the division of foreign currency reserves i.e. tracking down some USD600 million which disappeared from the former National Bank of Yugoslavia's account. An advisor to the Croatian National Bank governor, Zdravko Rogic, told Hina concrete steps had been made to establish what had happened to the money which banks with a mixed ownership structure operating abroad somehow had at their disposal. In late May 1992, when economic sanctions were imposed on Yugoslavia, there were USD645 million on the central bank's accounts, and this year it was established that there was only USD56 million left. Some o
SARAJEVO, Nov 14 (Hina) - Representatives of successor-states to
former Yugoslavia agreed at a two-day meeting in Sarajevo on
measures to be taken with the aim of completing the division of the
former state's property in line with a succession agreement, signed
in June this year.
The main topic of the Sarajevo meeting was the division of foreign
currency reserves i.e. tracking down some USD600 million which
disappeared from the former National Bank of Yugoslavia's
account.
An advisor to the Croatian National Bank governor, Zdravko Rogic,
told Hina concrete steps had been made to establish what had
happened to the money which banks with a mixed ownership structure
operating abroad somehow had at their disposal.
In late May 1992, when economic sanctions were imposed on
Yugoslavia, there were USD645 million on the central bank's
accounts, and this year it was established that there was only USD56
million left.
Some of the money which should have been distributed among the
newly-established states was probably spent in line with UN
Security Council decisions but Rogic says it is possible the rest of
it was used to cover the debts of companies from the territory of
today's Yugoslavia.
Yugoslav Assistant Finance Minister Veroljub Dugalic said
Belgrade, too, was interested in finding out where the money from
the National Bank disappeared and how it was possible for banks with
a mixed ownership structure operating abroad to use that money.
It is not likely the USD600 million will ever be tracked down but the
successor-states have agreed to look for it until they find clear
answers and in the meantime to divide what was left.
The successor-states agreed at the Sarajevo talks to start the
division of almost 8,500 gold ingots worth some USD74 million, of
which Croatia is entitled to 23 percent.
A uniform policy will be adopted by all successor-states in
resolving the issue of a former Soviet Union's clearing debt to the
former Yugoslavia.
Although it is speculated the debt amounts to one billion and 290
million US dollars, its actual amount is yet to be established in
talks with Moscow, after which each successor-state will sign a
bilateral agreement with Russia defining ways to settle the debt.
(hina) sb rml