Government plans 500 million EUR of loans in three years
12/05/2018 18:31
The Washington Agreement Must Be Reactivated! 06/01 19:04
The government will be searching once again in international markets to take new loans through a new Eurobond.
The Council of Ministers passed a verdict which made way for the loaning procedures, such as appointing a financial adviser that will lead the process and that will introduce Albania to potential investors who will want to buy its debt.
Top Channel has learned that the government will take 300 million EUR loans through the Eurobond, but this is not an additional debt.
The money will be taken to replace the loan taken through a previous Eurobond, and to fund the deficit based on the state budget limits.
Albania sold an Eurobond in 2015, taking a 450 million EUR loan with a 5.75 annual interest rate. Although the deadline of this debt ends in 2020, the government will gradually start to renew it, from this year.
The plan of the Ministry of Finances is to gradually take 500 million EUR in the next three years to replace that Eurobond that is going to maturate by 2020.
Top Channel
