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Weekly Review of Slovene Economy from 14 through 20 January

Ljubljana, 20 January - Slovene Finance Minister Mitja Gaspari and Governor of Bank of Slovenia France Arhar received a note from the Chemical Bank saying that banks possessing two thirds of claims from the New Financing Agreement (NFA) gave their agreement to the Slovene proposal for the repayment of the debt, reports the ministry of finance Monday. The agreement hay to be confirmed by Slovene parliament. Slovenia and the Consortium of Commercial Banks reached an agreement, according to which Slovenia must pay 18 percent of the former Yugoslav debt arising from the NFA signed in 1988, to be exempt from the so-called solidarity clause (under this clause Slovenia is responsible for the repayment of the debt of other parts of former Yugoslavia). The principal of the debt amounts to US$ 700 million while the interests total US$ 200 million.

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