council decis juli provid macro financi assist yugoslav republ macedonia ec council european union regard treati establish european commun articl thereof regard propos commiss regard opinion european parliament commiss consult monetari committe submit propos yugoslav republ macedonia undertak fundament polit econom reform make substanti effort establish open market economi yugoslav republ macedonia european commun sign cooper agreement agreement field transport develop full cooper relationship yugoslav republ macedonia agre intern monetari fund imf comprehens set stabil polici reform measur support loan enhanc structur adjust facil esaf yugoslav republ macedonia agre world bank comprehens set structur adjust measur back structur adjust loan credit author yugoslav republ macedonia request financi assist intern financi institut commun bilater donor estim financ provid imf world bank import residu financ gap remain cover remaind order strengthen countri reserv posit support polici object attach govern reform effort author yugoslav republ macedonia commit fulli discharg outstand financi oblig european commun european invest bank commun long term loan yugoslav republ macedonia measur eas countri extern financi constraint support balanc payment strengthen reserv posit commun loan manag commiss treati provid adopt decis power articl decid articl commun make yugoslav republ macedonia long term loan facil maximum princip amount ecu million maximum matur fifteen year view ensur sustain balanc payment situat strengthen countri reserv posit end commiss empow borrow behalf european commun resourc dispos yugoslav republ macedonia form loan loan manag commiss close consult monetari committe manner consist agreement reach imf yugoslav republ macedonia articl commiss empow agre author yugoslav republ macedonia consult monetari committe econom polici condit attach loan condit consist agreement refer articl commiss verifi regular interv collabor monetari committe coordin imf econom polici yugoslav republ macedonia accord object loan condit fulfil articl loan made yugoslav republ macedonia tranch tranch releas subject provis articl full settlement due financi oblig yugoslav republ macedonia commun european invest bank subject provis articl tranch releas basi satisfactori track record implement esaf programm month releas tranch fund paid nation bank yugoslav republ macedonia articl borrow lend oper refer articl carri date involv commun transform matur exchang interest rate risk commerci risk commiss step yugoslav republ macedonia request ensur earli repay claus includ loan term condit exercis request yugoslav republ macedonia circumst permit improv interest rate loan commiss refin part initi borrow restructur financi condit refinanc restructur oper carri accord condit set paragraph effect extend averag matur borrow concern increas amount express current exchang rate capit outstand date refinanc restructur relat cost incur commun conclud carri oper decis born yugoslav republ macedonia monetari committe inform develop oper refer paragraph year articl year commiss address european parliament council report includ evalu implement decis brussel juli council presid poo oj oj