January 4 (SeeNews) - Serbia will start utilising later this month special drawing rights (SDR) provided by the International Monetary Fund (IMF) to repay debt, finance minister Sinisa Mali said.
In August the IMF Board of Directors made available to Serbia SDRs worth approximately 890.22 million dollars, or 759.71 million euro, Mali said in a statement on Sunday, adding that the finance ministry will use the funds to repay part of its 3 billion euro worth of debt maturing in 2022 and refinance the remainder.
Mali also said that the government will have a lot of work to do in the first three months to manage public debt as more than half of Serbia's 2022 debt is due in the year's first quarter.
According to the latest official statistical report, Serbia's public debt at the end of October was equivalent to 56.5% of the gross domestic product (GDP) projected for 2021.