Statement of the Minister of Finance Igor Lukšić

As you know, during the previous period, significant claims had been given regarding the loans provided from the budget, loans taken over after of contaminated balance of Montenegro bank in the procedure of privatization, privatization and balance of Jugobanka Podgorica which is practically facing the final liquidation. The Banks for Development within the Republic Directorate of Goods Reserves and Union Directorate of Goods Reserves; thinking of the way to increase the efficiency of those claims management, we had chosen to offer a Decision which would enable the buy-of of the due debt or to be due in 2008, using the Old foreign currency savings bonds and Restitution bonds, as they are referred to. The reason for this is that we had estimated that it is the good way to increase the possibility to use these bonds and I believe that in that manner we meet one off the request or, to rephrase, we fulfill a promise given when we had adopted a new Restitution Law, to increase the possibilities to use these bonds for the purposes defined by that Law, and one of the options is for the Government to decide on property which can be purchased or paid in that manner, and as you are aware the claims can be categorized as property rights. In that manner, I believe, we are meeting the needs of significant number of citizens owning those bonds since those will be more attractive, and on the other hand I consider that we are making a decision that helps contributing the quality of claims management, reduce the debt, public debt and increase the efficiency of the judiciary system operation because we have a significant number of cases forwarded to the court instances and are being processed in this area. Therefore, I believe that in this manner we are making a decision to make these bonds much more attractive in the following period and enable fulfillment of all those objectives I had stated