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Nov 04, 2022 14:58 EEST
November 4 (SeeNews) - North Macedonia's government said on Friday that it approved a request to the International Monetary Fund (IMF) for a 530 million euro ($519 million) funding arrangement under the Precautionary and Liquidity Line (PLL).
The funds are intended to support the budget of North Macedonia, the government said.
In October, the IMF and North Macedonia reached a staff-level agreement on a 24-month 530 million euro arrangement under the PLL.
The PLL provides financing to meet actual or potential balance of payments needs of countries with sound policies and that may have some remaining vulnerabilities. It is intended to serve as a backstop or help resolve crises under wide-ranging situations, according to the IMF.
($ = 1.023 euro)
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