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Serbia issues restitution bonds worth 69.5 mln euro ($79.3 mln)

Serbia issues restitution bonds worth 69.5 mln euro ($79.3 mln) Hirurg/Shutterstock.com

BELGRADE (Serbia), January 18 (SeeNews) - Serbia has issued 69.5 million euro ($79.3 million) worth of five-year, 10-year, and 12-year bonds meant to cover court-approved property restitution claims, the finance ministry said.

The government securities will mature on January 14, 2027, January 14, 2032, and January 14, 2034, respectively, the ministry said in a statement on Monday.

The compensations will be paid once a year starting January 14, 2023, until each respective bond issue matures.

The government's Restitution Agency, in charge of applying the law on property restitution and compensation, aims to restore property nationalized in Serbia after the end of World War II, as well the property seized as a consequence of the Holocaust.

The issued bonds cover the value of property claims acknowledged by courts by June 30, 2021.

($ = 0.8762)

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