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Shkruar nga Pamfleti
In addition to the guarantee from the State Bank, private banks have also requested financial guarantees from two of the energy sector companies.
After the government meeting, the Minister of Finance, Delina Ibrahimaj, gave two announcements:
1. The government ensured the receipt of a Eurobond (debt) of 600 million Euros in the international private markets with a term of 5 years and an interest rate of 6.125%, but outside the body of the IMF-BB-EBRD, while the parliament had approved a 500 million Euro debt.
2. The new salary increments of the administration and budget employees for the months of April-May will be liquidated within the month of June 2023, while the increments of ministers and deputies were paid immediately from the reserve fund.
Regarding the Eurobond, Ibrahimaj said that the value of the debt, 600 million Euros, will be used to pay off the installments of the existing debts, and to make internal liquidity, 60% of which are salary and pensions, but he did not clarify why this debt was taken. from the free international market and not from the partner group IMF, WB, EBRD, etc.
As for the repayment of the salary increase, the minister did not explain where the government found the funds as if with a "magic wand", when until 1 week ago there was not even 1 penny in the budget to pay them.
An information from the Ministry of Finance informed "Pamphlet" that in order to make this electoral repayment of the salary increase, the government has made an agreement for an internal debt of 116 million Euros with 2 private banks.
This debt will be with a 1-year term and 5% interest, starting the transition on June 25, and from there forwarding to the State Treasury, in the new salary system for the 4 months of April-July, where only the total allowance for 1 month is 28.8 million Euros.
While the total value of the supplement for the governors, deputies and 132 thousand officials and budget employees, is 345 million Euros, for which the government tried to pay from the foreign debts received for investments, but the IMF blocked the actions of the Ministry of Finance and State Bank.
Now, the government has found opportunities by taking debt from private banks within the country, for the additional payments of 4 months April-July 2023 in the amount of 116 million Euros; but so far, there is no possibility for August-December payments until the 2024 budget is approved.
We hope it is not true, but in addition to the guarantee from the State Bank, the 2 private banks have also requested property guarantees with two of the assets of the energy sector.
This guarantee with collateral is required because the banks are watching, that the government is drowning in debt to pay off salary debts, taking another 600 million Euros of debt in the private markets outside the IMF, WB and EBRD./ Pamphlet
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