Ser­bian guar­an­tees.

Kathimerini English - - Business & Finance -

The Ser­bian gov­ern­ment will of­fer guar­an­tees for a loan of as much as 70 mil­lion eu­ros ($99 mil­lion) to state-owned Galenika, Ser­bia’s big­gest state-run drug­maker, so it can re­pay short­term debt. The com­pany is fac­ing more than 40 mil­lion eu­ros in short-term li­a­bil­i­ties, needs to buy raw ma­te­ri­als and may halt op­er­a­tions within weeks with­out gov­ern­ment sup­port, Econ­omy Min­is­ter Ne­bo­jsa Ciric told re­porters in Bel­grade yes­ter­day fol­low­ing a cabi­net meet­ing.

(Bloomberg)

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