5 Almost 40 percent of the chief financial officers (CFOs) of small businesses who responded to the survey said that credit had become more costly, less available, or both as a result of the financial turmoil. This proportion is up slightly from the March survey when this sentiment was reported by about one-third of responding small business CFOs.
At the same time, following an adverse financial stability effect internationally of some of the complex financial derivatives, such as CDSs, CDOs or NDFs, we would like to discourage the development of such instruments in Serbia at this stage of financial literacy in the country.