IMF to monitor FYROM’s foreign debts

IMF to monitor FYROM’s foreign debts

Skopje, October 27, 2014/Independent Balkan News Agency

By Naser Pajaziti

A team from the International Monetary Fund will start a visit today in FYROM in order to assess the financial capacities and government projections for the payment of debts owed to foreign financial institutions.

This visit will last 10 days and IMF experts will assess the foreign debt of the country and the capacity to pay it back.

The decision for this monitoring process has been brought at the start of 2013, when the country took out a loan amounting to 200 million Euros.

The monitoring team is led by the directress of IMF in Skopje, Ivana Vladkova Holar, who is expected to hold meetings with representatives of the government, Ministry of Finance and Central Bank. In May of this year, IMF recommended for the country to preserve the level of budget deficit and not to increase foreign debt any further. This world financial organization demanded the drafting of a strategy for management and analysis of foreign debt. /ibna/