Print Magazine
Brussels Morning Newspaper
Monday, June 27, 2022
No Result
View All Result
  • Home
    • About Us
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Europe With Transparency
    • Sustainable Perspective
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
Brussels Morning Newspaper
  • Home
    • About Us
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Europe With Transparency
    • Sustainable Perspective
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
Brussels Morning Newspaper
No Result
View All Result
Home Economy

EU, US banks help sought so Montenegro can repay debt to China

Nikola Kiš by Nikola Kiš
7 July 2021
in Economy
EU, US banks help sought so Montenegro can repay debt to China
Share on FacebookShare on Twitter

Brussels (Brussels Morning) Jakov Milatović, Montenegro’s Minister of Economy and Economic Development, stated on Wednesday that the country is close to swapping or refinancing an almost 1 billion dollars loan from China.

He expressed hope that Montenegro would be able to secure an interest rate below 1%, in noting that the Chinese loan carries an interest rate of 2% and is in US dollars, representing a potential currency risk, Reuters reports.

Montenegro raised the loan worth 944 million dollars from China’s Export–Import Bank in 2014 to finance construction of a 41-kilometre stretch of motorway. The loan came with 20-year maturity and a six-year grace period.

Milatović said Prime Minister Zdravko Krivokapić wants to reduce the cost of the debt to China, adding that “we are negotiating with a number of Western banks from Europe and the US”.

“There are two options: the first is to refinance, the second is to swap the loan. A third option is to do part of the first one and part of the second one”, he said. “We believe we can get much better terms”, he added, saying he was “very optimistic about it”.

Deal possibly weeks away

While declining to identify the Western banks involved, Milatović believed an agreement could be reached in the coming weeks.

Krivokapić, who took office in December last year, noted that Montenegro was in a democratic transition and that establishing rule of law in the country was his greatest challenge.

He asserted that Montenegro had been “captured” by criminals and riddled with corruption. “International organised crime has been present in Montenegro and as a small country we cannot tackle this problem on our own”, he declared.

Milatović pointed out that the government had inherited poorly-run state-owned companies, which was why the authorities are now considering plans to form a holding company to manage them.

“This is something Greece did in its recovery period. This is the right way to go in order to privatise some of the assets and make some of the state-owned enterprises more efficient and at the end of the day provide a return on the assets for taxpayers”, he observed.

Latest post

Mont,De,Marsan,Landes,France,05,17,2019,Eurofighter,Typhoon

German MTU hopes for new contracts in Luftwaffe overhaul

1 day ago
Flags,Of,Moldova,European,Union,And,Ukraine

Supporting Moldova means supporting stability in Ukraine

2 days ago

Most Read

  • These are the 10 highest paying jobs in the Europe in 2022

    These are the 10 highest paying jobs in the Europe in 2022

    0 shares
    Share 0 Tweet 0
  • What Are The Highest Paying Jobs In Luxembourg?

    0 shares
    Share 0 Tweet 0
  • Energy Recovery Fund

    0 shares
    Share 0 Tweet 0
  • What Are The Highest Paying Jobs In Finland?

    0 shares
    Share 0 Tweet 0
  • A taste of Croatian flavors of the diplomacy in Brussels

    0 shares
    Share 0 Tweet 0
Facebook Twitter Youtube LinkedIn

About Us

Brussels Morning is a daily online newspaper based in Belgium. BM publishes unique and independent coverage on international and European affairs. With a Europe-wide perspective, BM covers policies and politics of the EU, significant Member State developments, and looks at the international agenda with a European perspective.

Category

  • Ambassador’s Corner
  • Belgium News
  • Brussels
  • Commission
  • Council
  • Culture and Society
  • Diplomacy
  • Economy
  • EU Institutions
  • Europe
  • Europe With Transparency
  • Features
  • In Depth
  • Member States
  • Middle East Eye
  • Opinion
  • Our pick
  • Parliament
  • Place de la Bourse
  • Southeast Europe
  • Sustainable Perspective
  • The American Angle
  • The Macro-Economist
  • Uncategorised
  • US Elections
  • World

More info

  • About Us
  • Advertising
  • Cookies Policy
  • Contact Us
  • FAQ
  • Jobs

Brussels Morning Newspaper - All Rights Reserved © 2020

No Result
View All Result
  • Home
  • About Us
  • EU Institutions
    • Parliament
    • Commission
    • Council
  • Europe
  • World
  • Member States
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Sustainable Perspective
    • The American Angle
    • Southeast Europe
  • Print Magazine

Brussels Morning Newspaper - All Rights Reserved © 2020

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT