NBS extends moratorium on debt repayment

NEWS 27.07.2020 21:13
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Source: N1

The National Bank of Serbia (NBS) introduced regulations on Monday to allow debtors further delays in repayment on loans and leasing arrangements.

The NBS Executive Board said the decision to allow debtors to postpone repayments to help ease the consequences of the coronavirus pandemic and keep the financial system stable.

The NBS allowed an initial moratorium on debt repayments when the pandemic broke out. “The NBS reacted to the first wave of the pandemic efficiently and decisively allowing the public and the economy to deffer payment of their debts to banks and leasing agencies for a three month period,” NBS Governor Jorgovanka Tabakovic said and added that 90 percent of debtors took the opportunity.

According to the Governor, the NBS took the decision because the health crisis is ongoing.