August 4 (SeeNews) - North Macedonia issued 8 million euro ($9.5 million) worth of denationalisation bonds - government securities intended to compensate former real estate owners for their property appropriated by the state in the period 1944-1991, the finance ministry said on Wednesday.
The bonds have a maturity of ten years and bear 2% interest paid annually, the finance ministry said in a statement.
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The bonds will trade on the Macedonian Stock Exchange (MSE).
The new bond issue will cover decisions to pay compensation which became effective from January 1, 2020 to December 31, 2020, the finance ministry said.
North Macedonia has been issuing denationalisation bonds since 2002 as compensation to citizens for their nationalised property. The bonds can be used for the purchase of shares in state-owned companies.
($ = 0.8428 euro)