Hopefully now our Government can use these funds towards the Gas Pipeline aswell as the Corridor 8 and 10 Projects. This is extremly important for Macedonia.
Saturday, 09 October 2010
An open credit line is a new instrument of the International Monetary Fund (IMF), aimed at assisting countries with healthy economic policy to cope with the crisis, said head of IMF Mission to Macedonia Wes McGrew after talks with the country's delegation led by Vice Premier and Finance Minister Zoran Stavreski at the sidelines of the annual World Bank/IMF assembly, media reports from Washington.
"The credit is intended for dealing with circumstances caused by unexpected difficulties, providing security in case the country needs a larger loan, in this case US$ 400 million, thus supporting the country's economic policy", said McGrew.
According to Vice Premier Stavreski, the new instrument is one of security, with Macedonia having the option of using the funds, but not necessarily.
He stressed such funds are allocated to states that the IMF trusts due to healthy economic policies.
"We are satisfied that Macedonia is the first country the Fund is discussing with about the new instrument", added Stavreski.
The IMF offer will be reviewed by the Government, along with the experts and businessmen, and if approved, funds would be used for capital investments, budget support, as well as repayment of debts.
Vice Premier Stavreski also held meetings with IMF Executive Director Age Bakker and Council of Europe Development Bank (CEB) Governor Raphaël Alomar.
The agenda of the Macedonian delegation, also comprised of Vice Premier for Economic Affairs Vladimir Pesevski and Deputy-Economy Minister Metodij Hadzi-Vaskov, includes meetings with World Bank Vice President Philippe Le Houérou, WB Macedonia director Jane Armitage, as well as IMF and WB high officials, Naoyuki Shinohara and Ruud Treffers respectively.
Saturday, 09 October 2010
An open credit line is a new instrument of the International Monetary Fund (IMF), aimed at assisting countries with healthy economic policy to cope with the crisis, said head of IMF Mission to Macedonia Wes McGrew after talks with the country's delegation led by Vice Premier and Finance Minister Zoran Stavreski at the sidelines of the annual World Bank/IMF assembly, media reports from Washington.
"The credit is intended for dealing with circumstances caused by unexpected difficulties, providing security in case the country needs a larger loan, in this case US$ 400 million, thus supporting the country's economic policy", said McGrew.
According to Vice Premier Stavreski, the new instrument is one of security, with Macedonia having the option of using the funds, but not necessarily.
He stressed such funds are allocated to states that the IMF trusts due to healthy economic policies.
"We are satisfied that Macedonia is the first country the Fund is discussing with about the new instrument", added Stavreski.
The IMF offer will be reviewed by the Government, along with the experts and businessmen, and if approved, funds would be used for capital investments, budget support, as well as repayment of debts.
Vice Premier Stavreski also held meetings with IMF Executive Director Age Bakker and Council of Europe Development Bank (CEB) Governor Raphaël Alomar.
The agenda of the Macedonian delegation, also comprised of Vice Premier for Economic Affairs Vladimir Pesevski and Deputy-Economy Minister Metodij Hadzi-Vaskov, includes meetings with World Bank Vice President Philippe Le Houérou, WB Macedonia director Jane Armitage, as well as IMF and WB high officials, Naoyuki Shinohara and Ruud Treffers respectively.
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