search query: @freeterm Yugoslavia, state debt, succession, / total: 1
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| Author: | Radosevic, D. |
| Title: | Some aspects of regulation of liabilities deriving from the unallocated former Yugoslav debt |
| Journal: | Bancni vestnik
1995 : VOL. 44:6, p. 31-36 |
| Index terms: | |
| Freeterms: | Yugoslavia, state debt, succession, liabilities, regulation, IMF, World Bank international law, conventions, Vienna, history, cases |
| Language: | slv |
| Abstract: | The article analyses the problems related to the succession of external debts of former Yugoslavia.It is a very complex problem within the framework of regulation of external liquidity of the newly established states.The subject of the analysis are the problems of the so called "un-allocated" debt of former Yugoslavia.It is the external debt, whose debtor towards foreign countries is former Socialist Federal Republic of Yugoslavia (federal republic) and/or former National Bank of Yugoslavia; the final user of the foreign debt in the country is not known.Since the regulation of relationships of the new succession states of former Yugoslavia with all the categories of foreign creditors is very important, the article deals with various modalities of the debt succession regulation.The principal hypothesis, on which the article is based, lies in the fact that former Yugoslavia disappeared as a result of dissolution and ceased to exit as a subject of international public law.All the states that have been formed after the dissolution of former Yugoslavia, have, according to this generally accepted principle, the same rights and responsibilities.From the historic example of allocation of state debts, one can see that the allocation criteria in the process of siccession of state can be different macroeconomic indicators on the basis of which multinational agreements between succession states and third countries are negotiated.International political circumstances play a very important role in selection of the method of allocation of state debts.From the comparative presentation of the relative shares of individual new SFRJ succession states, one can conclude that the so called "standard B retonwoods formula" is very objective in indicating a relative average participation of an individual new state in the overall economy of the previous state.On the basis of this we can conclude that the same method could be applied to the un-allocated debt of former Yugoslavia.A "null option" is not acceptable when the allocation of former Yugoslav debts is in question.Allocation of debts and their partial secession have a key role in the consolidation and enhancement of the sovereignty of succession states. |
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