ANO leader only agrees stop gap help for OKD: Jan Mládek

Minister of Finance Andrej Babiš has only agreed for a minimal loan so far to mining company OKD of around 150 million crowns, according to Minister of Industry and Trade Jan Mládek. Mládek said the sum would only be sufficient as a stop gap measure to pay wages for July and by September the government would be faced with the same position again. Last week managers of the hard coal mining company said that an external loan of 700 million to 1.0 billion crowns was needed this year to keep the mines working. The government committee dealing with OKD’s problems met on Monday without Andrej Babiš. He has demanded guarantees that any state loans be repaid. Around 12,000 jobs depend on the mining company.

Author: Chris Johnstone