EU, US banks help sought so Montenegro can repay debt to China
Jul 7, 2021
EU, US banks help sought so Montenegro can repay debt to China — — -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.
