The International Monetary Fund (IMF) has offered Macedonia an unconditional open line of credit in amount of 400 million dollars with favourable interest rate of 1.3% annually, Vice PM and Finance Minister Zoran Stavreski stated Friday in Washington, MIA reports.

According to him, Macedonia has gotten an excellent offer from IMF.

"It is not an arrangement, but line of credit, which Macedonia could use under very favourable rate of 1.3% if it is estimated that this is positive for the country. Macedonia has a chance to get it as a result of our economic policies", said Stavreski after meeting top IMF representatives in Washington, where he leads a Macedonian delegation at annual IMF/WB General Assembly.

The Vice PM elaborated that IMF had introduced this instrument for countries such as Macedonia that were in need of finances for realisation of capital investments, business payments in order not to be indebted at home with state bonds.

"This offer remains to be reviewed together with experts, businessmen and the Government in a bid to be determined whether Macedonia should and is able to use these funds for next year”, Minister Stavreski said.

The IMF offer was made based on an assessment for good macroeconomic policy. Its line of credit is a flexible instrument offering cheap credit funds without rigid conditions. If Macedonia accepts this offer, funds would be used for capital investments in infrastructure, health-care, education and budget demands as well as for payment of foreign debt. Macedonia is the first country to be offered this line of credit.