Saturday, December 14, 2013

Albania: Government, 400 million USD in loans

Government, 400 million USD in loans
The Albanian government is negotiating with the International Monetary Fund for a loan that might mount up to 400 million USD.

Top Channel has learned that the parties are in the final phase of the negotiations and are deciding the details.

The agreement will be made public this Monday in a joint conference for the media.

Sources from the Ministry of Finances say for Top Channel that the loan might be given through two installments in the next two years, and will be used for the debt that the state has to businesses.

The government and the International Monetary Fund have agreed for the conditions related to the budget indicators, such as the deficit, the income and spending, and they are discussing the final details related to the state treasury amends.

The concern of the international community is to not allow accumulation of other debts.

For this, they are discussing a series of legal amends. The loan of the International Monetary Fund is attached to that of the World Bank. All loans might reach 600 million USD or 5% of the Gross Domestic Product, which will be used for paying the debts to businesses and for financing the projects that have started.

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