Yugoslav Republic of Macedonia: Second Post-Program Monitoring Discussions

Publication Date: February 26, 2014
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Summary: This paper discusses key findings of Second Post-Program Monitoring Discussions with Former Yugoslav Republic of Macedonia. Growth continues to strengthen, although the recovery is not yet broad-based. Private non-debt creating capital flows have slowed, and could leave the reserve path increasingly driven by an accumulation of external public debt. Central government debt has increased by about 15 percentage points since the beginning of the global financial crisis, in the context of growing broader public sector operations. The strong recovery in first half of 2013, high bank liquidity, and the decline in reserves suggest an end to the easing cycle would be in order.
Series: Country Report No. 14/62
Subject(s): Post-program monitoring | Fiscal policy | Monetary policy | Debt sustainability analysis | Staff Reports | Press releases | former Yugoslav Republic of Macedonia (FYR Macedonia)

Publication Date: February 26, 2014
ISBN/ISSN: 9781475570809/1934-7685 Format: Paper
Stock No: 1MKDEA2014001 Pages: 48
US$18.00 (Academic Rate:
US$18.00 )
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