Government borrows to pay off old debts

Government borrows to pay off old debts

Skopje, 7 July 2016/Independent Balkan News Agency

By Naser Pajaziti

Government of FYROM is expected take new debts. With the recent decision, a new debt of 12,6 million euros has been secured through the sale of treasury bonds. This debt has been taken to pay old debts to international financial institutions.

A debt of 5,4 million euros will be paid tomorrow, while the next auction for the sale of bonds will be on 12 July.

The opposition reacted by demanding from creditors to be careful on how much money they lend to the government.

The biggest opposition party, SDSM, said that the government is in a crisis. It called on creditors to show caution, as with the new bill, these debts may be cancelled. /