SDSM urges prosecutors to open investigation into Hungary’s €1 billion loan

SDSM has called on North Macedonia’s judicial authorities and the public prosecutor’s office to open a formal investigation into the €1 billion loan that Hristijan Mickoski’s government negotiated with Hungary, demanding that prosecutors request information from Hungarian bodies and closely review contracts and the movement of funds.

Opposition cites Hungarian probe, asks for full transparency

At a press conference, member of SDSM’s executive board Andrej Zhernovski said the demand follows Hungary’s own investigation into the matter and reports that investigators seized thousands of pages of documentation from EximBank.

“Our strategic partners from the European Union and the United States know very well that in the past two years a significant amount of Chinese money has entered our country. Now, with this investigation, everything is being confirmed. However, it does not stop here. Look at the activities of his favorite minister, Stoilkovic, who continues to publish happily, joyfully that our country is negotiating a new inflow of Chinese funds,” Zhernovski said, urging prosecutors to obtain records from Hungarian authorities and to examine the contracts, the origin of the funds, the flow of money and which companies received disbursements from the loan.

He accused the government of failing to explain how the deal was arranged. “This is a huge sum of money. To this day we have not received an answer about how the deal was negotiated, who negotiated the deal, what the commissions are, what the hidden costs are. Of course, and what is very important, and I will emphasize once again, what is the origin of these funds,” Zhernovski added.

According to reporting that cited a statement by Hungarian police, four cases at EximBank are under investigation on suspicion of abuse of official position and negligent management. One of the cases under scrutiny is the €1 billion loan approved for North Macedonia; Hungary’s Ministry of Economy reportedly filed a complaint in July following an audit of the bank. The loan’s terms — an interest rate of 3.25 percent and a full state guarantee — were described by Hungarian officials in late July as problematic.

“Those who will repay this loan, and those are the citizens of our country, have the right to know the truth. But I will finish by saying that the time for truth is coming and the time for justice is coming,” Zhernovski said, reiterating SDSM’s demand that prosecutors open a case and coordinate with Hungarian investigators.

Photo: press material from the event