3rd April 2020, Skopje – The funds from the International Monetary Fund, out of the overall foreign financing, are first expected during this month, Minister of Finance Nina Angelovska said in an interview for “Morning Briefing”, adding that funds will also be received from the World Bank, the European Union, also including the bridge-to-bond facility. She underlined that these funds will be used for several months, in line with the needs for injecting funds in the business sector, and that new measures will also be adopted in line with the respective needs.

– We are discussing with the World Bank, and as you know, the Vice Prime Minister for European Affairs announced that the European Union provided certain assistance in the amount of EUR 50 million, and the bridge-to-bond facility. IMF funds are expected promptly, whereby the funds from the World Bank and the commercial banks are expected by the end of April and the beginning of May. These funds are not to be used only for a month, but they are sufficient for preserving liquidity in the coming months depending on how much funds will be needed to inject liquidity into the economy. These are the first measures being presented, and we will continue to further monitor the situation, the level of absorption of the funds and the upcoming developments, so that we could take other steps that will be necessary – Angelovska said.

The letter of intent to the IMF, which is also signed by the additional Deputy Minister, should be adopted at some of the next Government’s sessions, Angelovska said.

She pointed out that, this year, EUR 440 million fall due to be repaid on the basis of foreign debt, whereas securities in the amount of EUR 450 million are planned to be issued on the domestic securities market, out of which part is a roll-over of outstanding government securities that fall due throughout the year, , and the net issue is projected at EUR 200 million. Some of those previously accrued debt liabilities amounting to EUR 440 million have already been repaid – most of them in January, with the rest of them fall due in December, at the end of the year, which is somewhat favorable since we have no further need to repay previously accrued debt liabilities in the next two quarters, Angelovska said.

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