The NBRM Central Bank accepted a proposal from opposition leader Hristijan Mickoski and announced it will reduce its issue of short term bonds at the coming auction on April 15 by one third. Instead of issuing 400 million EUR in short term bonds, it will issue 278 million. NBRM said that it expects the remainder will be used by domestic commercial banks, who usually purchase these bonds, to invest in the economy.
These bonds are used as tools of monetary policy by the bank, and are issued at 1.75 percent interest. VMRO-DPMNE leader Hristijan Mickoski called on NBRM to put the entirety of this instrument at the disposal of the economy, through a state run development bank, insisting that this will help support the economy and reduce the need for excessive borrowing at the international markets.
Comments are closed for this post.