Agreement on reprogram of debts between Yugoslavia and Germany that regulates conditions on payment trade and financial demands of 720 million EUR, has been signed today, was announced by German Embassy in the FRY. Reprogramming of debts was arranged on the basis of credit agreement of the government of Federal Republic of Yugoslavia and International Monetary Fund (IMF) from June last year as well as on the basis of multilateral agreement with Parisian club concluded by the end of December. It was announced that on the basis of today#s agreement, concluded between Yugoslavia and Germany, agreement with Parisian club would be conducted, that is, 66% of Yugoslav debts would be written off on the basis of commercial demands in case three-years additional program with IMF was successfully concluded and realized. Remaining debt of Yugoslavia would be written off in the following 22 years that is in 39 years with 6, that is 16 years of grace period, was said from the German Embassy and it was added that the agreement signed would reduce the debt and contribute to economic reforms in Yugoslavia Agreement on reprogram of debts was signed by the Federal Vice premier Miroljub Labus, charge d#affairs of German Embassy Christian Hellbac and chief of German Federal ministry of finance delegation Bernhard Zeise.