DEBT TO BELGIUM TO BE RESTRUCTURED UNDER "DEBT-FOR-INVESTMENT SWAP"

Business | February 1, 2002, Friday // 00:00| Views: | Comments: 0

The EUR 12 M official Bulgarian debt to Belgium will be restructured under a "debt-for-investment swap" scheme, an agreement approved by the Cabinet reads. The agreement was concluded on January 18, 2002 between the Bulgarian Government and the Ducroire/Delcredere Belgian Export Credit Agency, acting on behalf of the Belgian Government. The document regulates the mechanism of Belgian investors buying out the balance of Bulgaria's official debt to Belgium from Ducroire and making private investments in Bulgaria. Provisions are made on arranging specific incentives to be offered to Belgian investors, which take advantage of the scheme.
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