Macedonia makes early repayment to World Bank

Macedonia has repaid five loans withdrawn from the World Bank (WB), totaling EUR 96.1mn.

Izvor: MAKFAX

Tuesday, 12.06.2007.

11:07

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Macedonia makes early repayment to World Bank

The latest repayment reduced the overall public debt  to GDP to 28 from 30 percent, while the remaining debt owned to WB now totals EUR 454mn.

This move will save to the State Budget as much as 32.7 million euros until 2021, i.e. 2.7. million euros for 2007 alone, on the basis of interest rates.
Some time ago, Macedonia cleared fully the debt owed to the International Monetary Fund (IMF). This step was welcomed by the IMF and the domestic experts alike, while both sides agreed to further their cooperation as the recommendations and measures proposed by the Fund are very valuable to the country.

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