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IMF allocates SDRs worth 161 mln euro to North Macedonia

Author Radomir Ralev
IMF allocates SDRs worth 161 mln euro to North Macedonia IMF/Creative Commons

SKOPJE (North Macedonia), August 24 (SeeNews) - The International Monetary Fund (IMF) has allocated 133 million special drawing rights (SDRs) worth about 161 million euro ($189 million) to North Macedonia, the country's central bank said.

The SDRs will be included in North Macedonia's official foreign reserves, the central bank said in a statement on Monday.

The IMF distributed a total of 455 billion SDRs worth about 551 billion euro to 190 member states to provide them with free access to foreign currency liquidity, the central bank noted.

SDRs are international reserve assets created by the IMF that can be held by member states as part of their official reserves or to pay debts and interests. The SDRs bear no costs if held in official reserves, and a 0.05% interest rate if they are used for other purposes.

($ = 0.85185 euro)

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