Thursday, February 04, 2010

Macedonian govt to take out World Bank loan to support budget

Macedonia will take out a EUR 20,5 million loan from the World Bank to support its budget, Macedonian Vecer daily reads.
This is envisaged in the debts bill, which was approved by the parliamentary committee for finance and budget on Wednesday. The loan has been approved by the Board of Directors of the International Bank for Reconstruction and Development – World Bank, as a series of requirements have been met, said Deputy Finance Minister Nedim Ramizi.
The deadline for repaying the loan is 25 years, with a grace period of eight years and a fluctuating interest rate.
The opposition members who did not support the bill slammed Finance Minister Zoran Stavreski for his irresponsible attitude to the committee, because this is the fifth bill on debts the deputy minister presents. Criticism was leveled also against the government for irresponsibly spending budgetary funds, because the bill does not envisage capital projects.

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