Serbia Unable to Redeem 2-Billion-Dollar Debt to Russia and China

Serbia is unable to redeem its debt worth USD 2 billion, that's why "sooner or later" its Russian and Chinese partners will agree to partially write off the debt. This statement was made by candidate for the post of Serbia's president Miroljub Labus in the course of the open TV debates between presidential hopefuls Wednesday.

At the TV debates candidates Vojislav Kostunica and Miroljub Labus expressed their views of the principal directions of foreign policy.

Miroljub Labus doubts possible write-off of Yugoslavia's debts for oil and gas. He stated that in the course of the talks the Russian and Chinese partners did not express their readiness to partially write off debts. He noted that he had demanded the officials of these countries to write off debts in compliance with the same rules as the Paris Club did, however, they did not agree and demanded that Serbia should pay its debts in full.

According to Kostunica, the relations with Russia and China should not be neglected in any way, meaning Yugoslavia's debt to these countries for gas deliveries. Kostunica stated that he advocated a pro-European foreign policy of his country.

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