Press Release No. 15/85

Press Release: The Former Yugoslav Republic of Macedonia Completes Early Repayment of Entire Outstanding Obligations to the IMF

March 2, 2015

On February 27, 2015, the Former Yugoslav Republic of Macedonia completed the early repayment of its entire outstanding obligations to the International Monetary Fund (IMF) amounting to SDR 123.1 million (about US$173.3 million). These obligations resulted from the funds drawn under the Precautionary Liquidity Line (formerly Precautionary Credit Line) approved in January 2011 (see Press Release No. 11/14). Under the original schedule, the final repayment would have taken place in March 2016.

IMF Managing Director Christine Lagarde said: “I welcome the Former Yugoslav Republic of Macedonia’s decision to repay early its outstanding obligations to the Fund, which reflects the country’s improved access to international capital markets. We look forward to continuing a close and constructive dialogue with the Macedonian authorities.”

On January 15, 2015, the Executive Board of the International Monetary Fund concluded the fourth and final Post-Program Monitoring with the Former Yugoslav Republic of Macedonia (see Press Release 15/16).