IMF Executive Board Receives Request for a Precautionary and Liquidity Line Arrangement with North Macedonia

IMF News, April 20, 2022

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Canonical URL: IMF Executive Board Receives Request for a Precautionary and Liquidity Line Arrangement with North Macedonia

Press Release No. 22/124 dated April 20, 2022.
The 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).
An IMF staff team will visit North Macedonia to consult with the authorities on their request.
IMF Managing Director Kristalina Georgieva intends to recommend IMF Executive Board approval of the PLL arrangement, pending a staff-level agreement with the authorities on policies.
The IMF Executive Board is expected to convene in the next months to formally consider the request.

The PLL is a credit line available to member countries with sound economic fundamentals, policy frameworks, and policies.
The PLL can help safeguard economies against external shocks by providing upfront access to IMF resources.
The IMF notes North Macedonia’s sound economic fundamentals and policy frameworks, and its track record of sound policies, as the basis for the intended recommendation.

Staff mission: IMF staff will visit North Macedonia for consultations.
Staff-level agreement: Recommendation for Board approval is conditional on reaching a staff-level agreement with the authorities on policies.
Board consideration: The IMF Executive Board will formally consider the request in the next months.
The IMF states it stands ready to continue to support North Macedonia during these exceptional times.

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IMF Press Release No. 22/124, April 20, 2022.

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