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The Eurobond has been put on offer on the world stock exchange with an interest rate of 5%

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Macedonia has started marketing its Eurobond to the world stock exchange with an interest rate of 5%, reports “Reuters“. The Eurobond has a seven-year benchmark, and the major banks who will be the lead managers are, “Citigroup”, “Deutsche Bank”,” Erste Group” and “Societe Generale”.

Macedonia’s current rating is BB- (which means stable) by “Standard & Poor’s” and BB+ by Fitch.

A large number of political parties, businessmen, and experts have warned that borrowing would be devastating for Macedonia’s economy, because the money will be used for unproductive expenditures, and the debt will fall to the people to pay.

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