14th April 2023 – “There are ongoing negotiations with the World Bank for providing financial resources via DPL (Development Policy Loan)”, Minister of Finance, Fatmir Besimi announced, while taking part in the WB and IMF Spring Meetings, in a statement for “Sitel” TV Channel. Thus, fresh capital will be injected in the domestic economy at exceptionally low interest rates, such as the development instruments of the international financial institutions, which is of great significance given the tightened financing conditions on the international markets, due to which the cost of capital is increasing.
Deficit financing and refinancing the prior debts at lower costs, i.e. lower interest rates is yet another manner for prudent debt management and fiscal consolidation. Therefore, Ministry of Finances manages the portfolio in optimal manner in terms of both the costs for settling the loans and the maturity, all to the end of ensuring sustainability in servicing the liabilities.
Two-year PLL Arrangement with the IMF, we signed last year, is aimed thereat. PLL is made available solely to countries with sound economic fundamentals, implementing and which will keep implementing sound economic policies in future. “Another benefit as regards PLL are the possibilities for negotiating new programs with favourable terms and conditions in support of the respective policies and reforms, such as the Macro-Financial Assistance of EUR 100 million, being already approved with the EC, as well as the negotiations about DPL with the World Bank, Minister Besimi pointed out.
As regards the expectations about the economic performance this year, Minister pointed out that the budget revenue collection, the economic activity and the other economic indicators demonstrate that the second half of 2023 will be more prosperous.
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