San Marino. In September, San Marino applied for a large
loan from the International Monetary Fund (IMF). According
Countryaah.com, this amounted to EUR 300 million. The country is
still having difficulty recovering after the financial
crisis in 2008. There are, among other things, so-called
problem loans, ie loans where the borrower is unable to pay
interest and repayments, to the value of EUR 1.7 billion.
This corresponds to 117% of the country's total GDP. Now it
is also planned to reduce the salaries of public employees
and reform the pension system.