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. Last Updated: 07/27/2016

Slovenia Eases Debt

LJUBLJANA () -- Slovenia has freed two leading banks, Ljubljanska Banka and Kreditna Banka Maribor, from debt obligations to former Yugoslavia and foreign commercial creditors by creating new legal entities.

Slovenia established the new banks to prevent foreign creditors from receiving more money than it believes it owes as a part of the debt of former Yugoslavia.

Two new banks, to be called Nova Ljubljanska Banka and Nova Kreditna Banka Maribor, will take on the assets of the old banks, but not obligations dating back to before Slovenia left the Yugoslav federation in 1991, the government said last week.