As many companies are set to begin repaying their loans in October, the NBRM Central Bank proposed that commercial banks allow another extension until March 2021 for companies and individuals who are in difficult position because of the coronavirus epidemic.
With the onset of the coronavirus, banks were urged to offer a delay in repayment of loans, and most of them made this offer to their clients, both in business and to ordinary citizens. The period expires in October and the banks will begin to ask that payment resumes.
It would be up to the banks to define the terms of this second period. Banks should clearly define the criteria under which they would help their clients who are hit by the coronavirus, NBRM said in a press release.
The Macedonian Banking Association said that the banks would allow this only to clients who really need a second grace period, such as individuals who were fired or had wage cuts and high medical expenses.