Before Slovenia declared independence, any foreign exchange deposits which Yugoslav citizens deposited in Slovenian banks were transferred to the former National Bank of Yugoslavia (NBY). Since independence, these accounts have been frozen. Slovenian bank officials hope the Slovenian government will guarantee these debts and open negotiations with the NBY but think it will be years before people obtain their money. Settling relations with the NBY, establishing new relations with foreign creditors, and getting recognition by the US would improve Slovenia's economic prospects and speed its admission to the IMF and World Bank. The second problem is that there are no international institutions willing or able to help Slovenia.
Before Slovenia declared independence, any foreign exchange deposits which Yugoslav citizens deposited in Slovenian banks were transferred to the former National Bank of Yugoslavia (NBY). Since independence, these accounts have been frozen. Slovenian bank officials hope the Slovenian government will guarantee these debts and open negotiations with the NBY but think it will be years before people obtain their money. Settling relations with the NBY, establishing new relations with foreign creditors, and getting recognition by the US would improve Slovenia's economic prospects and speed its admission to the IMF and World Bank. Slovenia will not renege on its allocated share of the federal debt.