YUGOSLAVIA

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP85T00287R000502290001-5
• Release Decision: RIPPUB
• Original Classification: S
• Document Page Count: 7
• Document Creation Date: December 22, 2016
• Document Release Date: August 2, 2010
• Sequence Number: 1
• Publication Date: December 13, 1983
• Content Type: REPORT

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Sanitized Copy Approved for Release 2011/03/11: CIA-RDP85T00287R000502290001-5
SITREP/13 Dec 1983
Yugoslavia
Belgrade has made some progress in recent discussions on
refinancing 1984 obligations with both its commercial and
government creditors. Several sources of the US Embassy report
that last week Western bankers offered to refinance all 1984
commercial maturities and extend the payments over seven years
with four years' grace. A 90-day moratorium on payments
beginning on 1 January also was granted to give Yugoslavia and
its private and official creditors time to work out the
package. The bankers, however, rebuffed the IMF request for new
loans of $300 million to $400 million, on grounds that Yugoslavia
does not need new money in 1984.
Completion of the package will depend
IMF-standby agreement and a refinancing agreement with We.stern
governments. An IMF team is currently in Belgrade to discuss
arrangements for next year's standby arrangement and reportedly
will need at least one more meeting in early January before being
in a position to offer a letter of intent. Reaching a final
accord with commercial banks could be further delayed if the IMF
continues to insist on banks providing new money to Yugoslavia.
Government creditors are tentatively scheduled to resume
talks with Yugoslavia and the IMF next month. At an 18 -November
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Sanitized Copy Approved for Release 2011/03/11: CIA-RDP85T00287R000502290001-5
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