IMF Staff Country Reports

Former Yugoslav Republic of Macedonia: First Review Under the Stand-By Arrangement and Request for Waiver of Applicability of Performance Criteria

Publication Date:

November 13, 2003

Electronic Access:

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Summary:

Macedonia's macroeconomic stabilization program continues to rest on the basis of fiscal and monetary policies, and has restored the fiscal balance to a sustainable level after two years of high deficits. Further structural measures are important to address impediments to growth and to reduce unemployment. Reforms are necessary to strengthen the investment climate by creating a predictable business environment, implementing judicial reforms, and addressing governance problems. The financial system stability assessment acknowledged the authorities' efforts to improve the soundness of the banking system and to address remaining vulnerabilities.

Series:

Country Report No. 2003/354

Subject:

Banking Budget planning and preparation Currencies Expenditure External debt Money Public debt Public financial management (PFM)