{
  "title": "Former Yugoslav Republic of Macedonia: Recent Economic Developments",
  "publication": "IMF Staff Country Reports, July 10, 2000",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/30/former-yugoslav-republic-of-macedonia-recent-economic-developments-3607",
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  "summary": "The economy of the Former Yugoslav Republic of Macedonia suffered a setback owing to the Kosovo crisis. The impact of the crisis, however, was less severe.",
  "sections": [
    {
      "heading": "Economic impact of the Kosovo crisis",
      "content": "- The economy \"suffered a setback owing to the Kosovo crisis.\"\n- \"The impact of the crisis, however, was less severe.\"\n- Key macro outcomes following the crisis:\n  - \"Inflation remained low.\"\n  - \"The balance-of-payments position and the fiscal situation improved.\"\n  - \"Indicators of external vulnerability remained satisfactory.\""
    },
    {
      "heading": "Monetary policy and the National Bank of Macedonia",
      "content": "- \"The National Bank of Macedonia faced contrasting challenges in the conduct of monetary policy.\"\n- Monetary authorities confronted tradeoffs implied by the external shock and domestic stability objectives (as described in the source)."
    },
    {
      "heading": "Structural reforms and tax policy",
      "content": "- \"The pace of structural reforms picked up and a value-added tax was introduced.\"\n- Structural reform acceleration coexisted with institutional weaknesses that constrained recovery."
    },
    {
      "heading": "Financial system weaknesses and recovery constraints",
      "content": "- \"Structural weaknesses in the financial system have prevented a more vigorous economic recovery.\"\n- The financial sector's condition limited the transmission of reforms and macro stabilization into stronger growth and credit expansion.\n\nSource: Former Yugoslav Republic of Macedonia: Recent Economic Developments, July 10, 2000.\n\n---\n\n Content in this bundle\n\n- cr0072\n  - cr0072 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr0072 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: July 10, 2000",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451825992.002",
    "The economy \"suffered a setback owing to the Kosovo crisis.\"",
    "\"The impact of the crisis, however, was less severe.\"",
    "Key macro outcomes following the crisis:",
    "\"The National Bank of Macedonia faced contrasting challenges in the conduct of monetary policy.\"",
    "Monetary authorities confronted tradeoffs implied by the external shock and domestic stability objectives (as described in the source).",
    "\"The pace of structural reforms picked up and a value-added tax was introduced.\"",
    "Structural reform acceleration coexisted with institutional weaknesses that constrained recovery.",
    "\"Structural weaknesses in the financial system have prevented a more vigorous economic recovery.\"",
    "The financial sector's condition limited the transmission of reforms and macro stabilization into stronger growth and credit expansion.",
    "**_cr0072**"
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