Macedonia Repays IMF Debt One Year İn Advance

Macedonia in advance has repaid in full the credit loan it had taken from the International Monetary Fund in 2011, saving some 5 million euros ($5.6 million) in the process, officials said.



Speaking at a press conference in the Macedonian capital Skopje, Deputy PM and Finance Minister Zoran Stavreski said Tuesday that Macedonia had repaid the entire outstanding debt of $174 million to the International Monetary Fund, or IMF, on Feb. 27.



"With the U.S. dollar rising, we made comprehensive analyses and evaluations regarding the future movement of the dollar and the euro, after which we have decided that it is favorable to repay the remaining of the $174 million in advance," said the minister. 



Macedonia had taken a $312 million loan from the IMF in 2011 which was being paid off since mid-2014. The deadline for full reimbursement had been set to March 2016.  



Stavreski said that in doing so, the government had sent a positive message to foreign investors. 



"The message being sent (...) to possible investors is that Macedonia has macroeconomic stability, a good business climate and favorable conditions for running a business," said the minister. 



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