SERBIA ISSUED BONDS FOR SETTLEMENT OF OBLIGATIONS UNDER RESTITUTION

19. Jan 2022

On January 14, 2022, Serbia issued government bonds for the first time in order to settle obligations based on compensation for confiscated property, which regulated the obligations of the Republic of Serbia in accordance with the Law on Return of Confiscated Property and Compensation.

The total amount of compensation for confiscated property for bond issues issued in 2022 was determined on the basis of the Decision on Compensation, which was issued by the Agency for Restitution and became final in the period from July 1, 2020, to June 30, 2021, and amounts to 69,452,452.20 euros, and will be paid by issuing bonds with maturities of five, 10 and 12 years, according to the website of the Ministry of Finance.

Compensation on the basis of issued bonds will be paid once a year from January 14, 2023, until the maturity of the bond, depending on its maturity.

On March 31, 2022, the Ministry of Finance of the Republic of Serbia will pay the former owners an advance payment in cash, based on the decision on compensation that became final by June 30, 2021, in the amount of 10% of the determined amount of compensation on all bases of the former owner.

Source: RS Ministry of Finance

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