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Review of Events in Slovenia from July 23 to July 29

Bank of Slovenia Governor France Arhar announced on Thursday that the adoption of the amendments to constitutional law, which are to protect Slovenia's vital financial interests against foreign appetites, represents actual monetary independence and Slovenian independence in general. On Thursday, Parliament approved amendments to constitutional law which stipulate that part of the assets of the banks Ljubljanska Banka (LB) and Kreditna Banka Maribor (KBM) be transferred to two new banks because the old LB and KBM banks were liable under a 1988 agreement (together with eight other banks of former Yugoslavia) for the repayment of Yugoslavia's external debt. According to the Minister of Finace Mitja Gaspari, Slovenia was thus able to shield the foreign exchange reserves that had previously been in LB and KBM. Foreign creditors have already been informed of the changes.

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