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FYR Macedonia : Public Expenditure Policy Based Guarantee (英语)

The Euro Zone turmoil during 2011-2012 created strong headwinds for Macedonia’s economy, leaving it facing a complex tangle of problems with negative impact on citizens: low revenues, unpaid government obligations, and a weakening private sector, while access to financing from virtually closed international financial markets exacerbated the issue. The World Bank worked with the government to obtain a large commercial loan leveraged by a World Bank...
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