Regulatory Alerts2019-10-17
Added · Updated
Law on the Settlement of the Public Debt of the Republic of Serbia Arising from Unpaid Foreign Exchange Savings
The Republic of Serbia enacted this law to settle public debt obligations arising from unpaid foreign exchange savings of citizens deposited with banks in Serbia and former SFRY republics by converting these claims into zero-coupon amortisation bonds. The legislation establishes a two-year claim filing period administered by the Ministry of Finance, requiring depositors to submit specific documentation to verify their rights and amounts owed. Settlement is executed through eight equal semi-annual instalments starting in 2020, funded by a EUR 310 million budget allocation, while simultaneously discontinuing all related lawsuits and enforcement proceedings.
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