IMF approves 176 million EUR loan for Macedonia

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The International Monetary Fund approved a 176 million EUR loan for Macedonia in light of the coronavirus epidemic and its blow to the economy.

The National Bank said in a statement that the Macedonian economy, as well as the world economy, would be temporarily affected by the outbreak of the novel coronavirus.

“The effects will be felt both by reducing global demand, but also by adjusting domestic demand, in conditions of uncertainty and measures taken to limit the spread of the virus.”

The National Bank said in a statement that the Macedonian economy, as well as the world economy, would be temporarily affected by the outbreak of the new viral infection.

“The effects will be felt both by reducing global demand, but also by adjusting domestic demand, in conditions of uncertainty and measures taken to limit the spread of the virus. Similar to other economies, such a context imposes the need to adjust macroeconomic policies for temporary and targeted economic support. “The use of IMF funds is an important element in the implementation of these policies, providing additional funding for budget support, as well as support for the foreign exchange potential of the economy,” reads the statement

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