ZAGREB, April 27 (Hina) - The agreement signed in New York on Friday with creditors of the London Club on rescheduling a part of former Yugoslavia's foreign debt which concerns Croatia, means very important success for Croatia,
Croatian Premier Zlatko Matesa said in Zagreb on Saturday.
MATESA
ZAGREB, April 27 (Hina) - The agreement signed in New York on
Friday with creditors of the London Club on rescheduling a part of
former Yugoslavia's foreign debt which concerns Croatia, means very
important success for Croatia, Croatian Premier Zlatko Matesa said
in Zagreb on Saturday. #L#
The agreement establishes Croatia's absolute independence from
the former country.
The former agreement with the London Club had a clause on
joint and several liability, so, theoretically, foreign creditors
could have asked from Croatia to pay back all of the former
Yugoslav federation's debt.
This was now definitely ruled out, Matesa said.
The rescheduling is so favourable to Croatia that it could aid
the overall growth and restructuring of Croatian economy.
During the next month and a half, a final agreement had to be
reached with the creditors, as all member banks had to vote on the
issue, Matesa said, adding that he was optimistic about the result
of the voting.
Matesa commended and congratulated the Croatian negotiators in
New York, headed by Finance Minister Bozo Prka, and all those
participating in the venture.
The amount of debt and ways of payment is to be announced by
Prka upon his arrival from the United States, at the beginning of
next week, Matesa said.
(hina) lm jn
271201 MET apr 96