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Montenegro

08. 10. 2021. 00:00   >>  17:17 0

MRDOVIC

Spajic removed the secrecy mark from the hedge

The Minister of Finance and Social Welfare, Milojko Spajic, removed the secrecy mark from the documentation for the hedging arrangement for the loan for the construction of the Smokovac-Matesevo highway section and approved the complete documentation regarding this contractual arrangement to the Social Justice Action (ASP). This was announced by Ines Mrdovic from the Action for Social Justice.

Thus, as Mrdovic says, Minister Spajic fulfilled his public promise that he would remove the secrecy mark when his department with the banks manages to overcome the contractual restrictions.

She said that she welcomes such a proactive approach of the Minister of Finance, which, as she assessed, is in the public interest.

"This is especially because, after the earlier publication of documentation on the last bond issue, as well as continuous information on spending money from the state treasury, including publication in a readable format, in less than a year in the proactive publication of data from the Ministry of Finance and Social Welfare "more than for the entire period since the declaration of independence. It is necessary to continue with such a practice," Mrdovic said.

She clarified that the hedging arrangement concerns the protection of public finances from currency risk, because the loan for financing the Bar-Boljare highway, section Smokovac Matesevo, was agreed in US dollars.

"Spajic said earlier that less than four million had been saved during the repayment of the first installment of the Chinese loan, and that the annual savings due to the agreed hedging could be around eight million euros," she said.

ASP will, as she announced, publish some of the data from the hedging arrangement in the coming days, after analyzing the information obtained.

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