Gov't Okays Extension of Loan Agreement between Slovakia and IMF by Three Years

Bratislava, December 4 (TASR) - The validity of the current bilateral loan agreement between Slovakia and the International Monetary Fund (IMF) will be extended by a maximum of three years, i.e. until the end of 2027, according to a draft appendix to the Loan Agreement between Slovakia and the IMF approved by the government on Wednesday. The appendix also specifies the IMF's procedures for the potential drawing and repayment of money. Slovakia has signed loan agreements with the IMF four times to date, with the currently valid one being signed by the then government in 2020. The agreement is valid until December 31, 2024, and Slovakia can provide a maximum of €672 million to the fund based on it. No money has been drawn from it yet. The IMF draws money for providing loans to member countries from three sources. These are membership quotas, money from the multilateral lending framework and money from bilateral loan agreements. If money is drawn from the above bilateral agreement, it would be provided by Slovakia's central bank (NBS). ko/df