Skopje, 10 October 2022 (MIA) – The Mission of the International Monetary Fund has given the green light to a provision of EUR 530 million to North Macedonia within 24 months, as part of the IMF’s Precautionary and Liquidity Line. “This is a great recognition of the economic policies of the country, because the IMF only offers financing through the PLL to countries with sound policies,” said the Ministry of Finance in a press release Monday. Upon the final approval of this instrument by the IMF’s Board, which is expected to happen later in October, the country will immediately receive EUR 110 million in order to finance the budgetary needs and to soften the blows of the energy and price crisis. “The purpose of the financial instrument is to provide liquidity support to healthy economies in times of shocks and crises, such as the current global situation,” explained the Ministry. The statement by the IMF’s Mission also recognized the Government’s commitments for further fiscal consolidation, as well as the reforms in public finances, especially the new Law on Budgets and the fiscal regulations which will further contribute to the consolidation. “By granting access to this financial instrument, the IMF is sending the international markets and investors a strong signal about the domestic economy. Namely, during the approval, apart from the positive evaluation of the economy by the IMF’s mission in the country, the IMF also evaluated the fiscal policy, the monetary policy, stability and the supervision of the financial sector and the adequacy of the data. This line represents confidence in the economy and the policies implemented in the country,” said the Ministry of Finance. ad/nn/