IMF Executive Board Receives Request for a Precautionary and Liquidity Line Arrangement with North Macedonia
April 20, 2022
Washington, DC : The International Monetary Fund’s (IMF) Executive Board met on April 15 for an informal discussion of the request by the authorities of the Republic of North Macedonia for a two-year Precautionary and Liquidity Line (PLL) with the IMF. [1] This credit line, available to member countries with sound economic fundamentals, policy frameworks, and policies, can help safeguard economies against external shocks by providing upfront access to IMF resources.
An IMF staff team will now visit North Macedonia to consult with the authorities on their request. In light of North Macedonia’s sound economic fundamentals and policy frameworks, and its track record of sound policies, and pending a staff-level agreement with the authorities on policies, IMF Managing Director Kristalina Georgieva intends to recommend IMF Executive Board approval of the PLL arrangement. The IMF Executive Board is expected to convene in the next months to formally consider the request. The IMF stands ready to continue to support North Macedonia during these exceptional times.
For more information on the IMF’s Precautionary and Liquidity Line:
IMF Precautionary and Liquidity Line (PLL)
[1] During an informal session, IMF staff engages with Executive Board Members to discuss country matters where no formal Board decision is expected.
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