Macedonian Minister of Finance Gordana Dimitrieska-Kochoska says that all borrowing undertaken so far, as well as future borrowing, remains within the limits set by the Budget. She notes that no borrowing is taking place outside of what has been planned.
Dimitrieska-Kochoska confirmed Thursday that the Government borrowed funds two days ago, also within the scope of planned borrowing, but explained that, due to conditions on the financial markets, it took out a loan of €150 million instead of the planned €250 million.
“We did borrow funds two days ago, though not the €250 million that had been planned. Precisely because of market conditions, the decision was made not to utilize the full amount. Instead, we borrowed €150 million, given the clear situation on the financial markets. We need these funds to cover interest and principal payments through the end of the year,” the FinMin said at a press conference regarding the budget revision.
The minister elaborated that this involved the issuance of a smaller Eurobond and that the transaction involved private investors.