Former Yugoslav Republic of Macedonia: First Review Under the Stand-By Arrangement, Requests for Waiver of Performance Criteria, and Extension of Repurchase Expectations
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Summary:
This paper discusses key findings of the First Review Under the Stand-By Arrangement for Macedonia. Macroeconomic performance of Macedonia remains strong. Through end-December 2005, the authorities met all of the program’s quantitative performance criteria. Growth has remained steady at about 4 percent. Gross reserves have risen above €1 billion, allowing interest rates on National Bank of Macedonia bills to fall since November from 10 percent to 7 percent. To complete the First Review, the authorities have committed to strong policies, including measures to correct for delays in the program’s structural reforms.
Series:
Country Report No. 2006/188
Subject:
Balance of payments Banking Credit Currencies Current account External debt Money Revenue administration
English
Publication Date:
May 16, 2006
ISBN/ISSN:
9781451826098/1934-7685
Stock No:
1MKDEA2006001
Pages:
88
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