The International Monetary Fund (IMF) has granted a €476 million loan to the Republic of Macedonia, The Wall Street Journal reports. The two-year credit line has been approved under its precautionary credit line, which is designed to prevent crises.
Macedonia will have access to about €396 million in the first-year and the remaining in the second year. Macedonia is not expected to draw upon the resources available under the line, but the loan will provide insurance against the possibility of adverse external developments.
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