European House Skopje

  MFI stands for Microfinance Institution, which is a financial institution that provides small loans, savings, and other financial services to low-income individuals and micro-entrepreneurs who typically lack access to traditional banking services. The budget of an MFI would depend on a variety of factors, including the size and scale of the institution, its business model, its target market, and its funding sources. Typically, the revenue of an MFI would come from the interest charged on loans, fees charged for other financial services, and possibly donations or grants from foundations or government agencies. On the expense side, an MFI's budget would include costs related to managing the loan portfolio, operating branches or field offices, and providing technical assistance and training to borrowers. Other expenses might include salaries and benefits for staff, rent and utilities for office space, and costs associated with technology and communication. Managing the budget of an

IVAN TOROV That’s how it is. Life isn’t fair, and reality demands a compromise. These are the words that Erwen Fouréré, the long-standing EU ambassador to Skopje, a witness and occasional actor in Macedonia’s troubles, addressed to his hosts, warning them that the time to reach a deal with Greece over Macedonia’s name was fast running out. A month from now the EU will decide whether Macedonia, after five years of candidate status, will be given the date for starting negotiations on finally joining the EU. In Macedonia itself, however, there is a gloomy atmosphere of unfulfilled expectations. It is as if the Macedonian government and public have come to accept that Macedonia will draw the short straw in the ‘wrestling match’ at the EU summit in June. It is most likely, indeed, that the setting of the date will again be postponed, hopefully until the end of the year, less optimistically for an indeterminate period. The formal explanation will be the slowing down, indeed end of