Brnabic: Investment Fund Black Rock Has 0.4% of Serbia’s Public Debt

Source: Beta Friday, 30.06.2023. 09:35
Illustration (Photo: Ti_ser/
The investment fund Black Rock owns government bonds of Serbia which comprise 0.4% of the total public debt of the country, through unsecured eurobonds and other securities, which were issued in the international financial market, stated the prime minister of Serbia, Ana Brnabic.

At the sessions of the National Assembly of Serbia, she said that untrue news reports had appeared in “tycoon-owned” media about Black Rock becoming the owner of the total debt of Serbia, whereas it was in fact only 0.4% of the total public debt.

– Black Rock is one of the funds that invest in domestic securities. At the auction, in addition of Black Rock as an investment fund, over 500 interested investors took part. The total demand of the investors for our securities exceeded the amount of USD 11 billion – Brnabic said.

She said that “at the most recent auction, Black Rock invested around USD 80 million, that is, it bought around 4.5% of the total volume of the issued bonds,” and that it owned EUR 138 million in Serbian eurobonds in total, “which is 1.54% of the total volume of the issued bonds.”

– All the bonds of the Republic of Serbia that have been issued in the international market are unsecured, they are not guaranteed by the property of the Republic of Serbia, because, if they were guaranteed by the property, they would have to have a much bigger value – Brnabic said.

The prime minister said that the fact that unsecured bonds were being bought showed “the trust of the investors in the economy and the economic growth” of Serbia.

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