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FYROM: State introduces securities with foreign currency clause

13. June 2009. | 10:04

Source: MIA

 State securities with foreign currency clause is the new financial instrument that the Ministry of Finance has introduced, whereas the first auction will be held on June 16, reads Ministry press release.

 State securities with foreign currency clause is the new financial instrument that the Ministry of Finance has introduced, whereas the first auction will be held on June 16, reads Ministry press release.

The goal of this financial instrument is to stimulate the further development of financial markets in Republic of Macedonia through increase of interest for securities by potential investors, stimulation of the securities' demand, extension of their timeframe, increase in the number of financial instruments at disposal of the fiscal authorities for efficient public debt management.

Through the introduction of state securities with foreign currency clause (Euro), the Government wants to send a clear signal that it continues to have faith in the stability of the domestic currency Denar.

The introduction of this financial instrument favors Macedonia's long-term orientation to join the European Monetary Union, reads the press release.


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