Rama 3’ government to get a new 700 million euros debt

Albania is getting ready to enter international markets for a new Eurobond worth up to 700 million euros. The Minister of Finance, Delina Ibrahimaj said on Wednesday that the foreign debt will be taken to cover the needs of the budget. After the meeting with the ministers, it was announced that the government has prepared a memorandum that will give life to the Open Balkan initiative.

According to her, the demand for foreign currency is expected to be up to 700 million euros at a time when the foreign exchange market is balanced, while she also explained the distribution of this fund.

Since 2010 this is the fifth time that Albania gets debts in foreign exchange market but it is the highest amount ever required. This is the fourth time that Socialist government undertakes such a financial step.

The Eurobond process is expected to be launched by the end of October or early in November this year, said the minister. Ibrahimaj considered this process as an appreciation of the credibility of the government shown by the readiness of all international markets to finance the government bond!

Asked about the accusations made by the Democratic Party (DP) on the criticism of the International Monetary Fund, the Minister chose to avoid the direct answer by presenting a summary of the economic situation

At Tuesday’s meeting with the head of the IMF, the government was reminded to be careful about the way it spends public money and the management of PPPs, which, according to the Fund, are further impoverishing the poor. / Argumentum.al