IMF offers Macedonia open credit line

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  • George S.
    Senior Member
    • Aug 2009
    • 10116

    #16
    Well the imf has given macedonia the green light to get itself more into debt if it isn't allready into debt??
    If macedonia borrows more than it can afford then it will be forever into debt like the other countries.
    "Ido not want an uprising of people that would leave me at the first failure, I want revolution with citizens able to bear all the temptations to a prolonged struggle, what, because of the fierce political conditions, will be our guide or cattle to the slaughterhouse"
    GOTSE DELCEV

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    • julie
      Senior Member
      • May 2009
      • 3869

      #17
      Prolet, take a step back. Who controls the IMF? Think it through, slowly. What are the effects and outcomes for Macedonia, and I am not talking about schools, hospitals. Who will Macedonia be indebted to? What are they going to be asking of Macedonia in return when they cant pay or default on their loan? THINK!
      Macedonia is the only country in the world that is in a dire position. Our name and ethnicity is at stake. The government is doing well in drumming up support in the form of foreign investment, bring it on, economically that places Macedonia in a better position
      "The moral revolution - the revolution of the mind, heart and soul of an enslaved people, is our greatest task."__________________Gotse Delchev

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      • fyrOM
        Banned
        • Feb 2010
        • 2180

        #18
        Spending on infrastructure is definitely a good thing for a country who badly needs it like RoM so long as it leads to economic prosperity. The catch 22 is if corruption steals the money the debt is still there without the means to repay it and then they own you. Thinking the government has their heart in the right place as it appears to be the case is not enough. A world down turn or a forced economic blockade can leave the country short for repayments.

        Debt to a country is kind of like debt to a family. It lets you grow faster than just saving but the temptation to grow to fast by taking out loans that are at your peak repayment capability is a risky proposition. Look at news reports of families who have high debts in Australia and are scared of interest rate hikes of only 2 percent fearing it will push them over the edge. I don’t know RoMs exposure so I cannot say if it’s a good thing or not but just as a general rule I wouldn’t get too excited about dealing with the IMF.

        Lets hope the government is not getting too enthusiastic about huge loans even if they are needed. It is the previous governments fault for wasting and stealing money and leaving so much still left to do forcing the government to take risks playing catch up now.

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        • The LION will ROAR
          Senior Member
          • Jan 2009
          • 3231

          #19



          Dinner between officials of the Republic of Macedonia, Mr. Ruud Treffers, Executive Director of the World Bank and Mr. Age Bakker Executive Director of IMF
          The Macedonians originates it, the Bulgarians imitate it and the Greeks exploit it!

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          • makedonche
            Senior Member
            • Oct 2008
            • 3242

            #20
            I think it may have been Brazil or one of those other countries who told the IMF to get stuffed and didn't borrow from them, and if I'm not mistaken their country has little or no debt, food for thought!
            On Delchev's sarcophagus you can read the following inscription: "We swear the future generations to bury these sacred bones in the capital of Independent Macedonia. August 1923 Illinden"

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            • Risto the Great
              Senior Member
              • Sep 2008
              • 15660

              #21
              Brazil lends to the IMF nowadays.
              Risto the Great
              MACEDONIA:ANHEDONIA
              "Holding my breath for the revolution."

              Hey, I wrote a bestseller. Check it out: www.ren-shen.com

              Comment

              • Prolet
                Senior Member
                • Sep 2009
                • 5241

                #22
                We got over a Billion Dollars credit from Taiwan, this is much less and the projects are very important. 600 million dollars over a period of 7-8 years is really not very much at all.

                Im not suggesting this is the only option we do have EU grants aswell of up to 70 million euros over the next 2 years that are ours and we dont have to pay interest for. The new Vodovod in Prilep for example was payed for by the Germans 9 million euro project. This is actually good for us, much better then the Tajvanskite krediti where millions of euros went into other people's pockets, Ljubco Georgievski was heavily involved with that scandal.
                МАКЕДОНЕЦ си кога кавал ќе ти ја распара душата,зурла ќе ти го раскине срцето,кога секое влакно од кожата ќе ти се наежи кога ќе видиш шеснаесеткрако сонце,кога до коска ќе те заболи кога ќе слушнеш ПЈРМ,кога немаш ни за леб,а полн си во душата затоа што ја сакаш МАКЕДОНИЈА. МАКЕДОНИЈА во срце те носиме.

                Comment

                • Prolet
                  Senior Member
                  • Sep 2009
                  • 5241

                  #23
                  Vice Premier Stavreski explains what the money will be spent on, he mentions the second and third phase of Zletovica, the construction of Smokvica-Demir Kapija road which is part of the Corridor 10 project aswell as the railway line towards Bulgaria. He also mentions a few energy projects like Lukovo Pole.



                  МАКЕДОНЕЦ си кога кавал ќе ти ја распара душата,зурла ќе ти го раскине срцето,кога секое влакно од кожата ќе ти се наежи кога ќе видиш шеснаесеткрако сонце,кога до коска ќе те заболи кога ќе слушнеш ПЈРМ,кога немаш ни за леб,а полн си во душата затоа што ја сакаш МАКЕДОНИЈА. МАКЕДОНИЈА во срце те носиме.

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