Former Yugoslav Republic of Macedonia: Staff Report for the 2009 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Former Yugoslav Republic of Macedonia
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Summary:
This 2009 Article IV Consultation highlights that the Former Yugoslav Republic of Macedonia’s vulnerability at the outset of the global crisis was its large current account deficit in the context of the exchange rate peg to the euro. At the same time, it benefited from a small fiscal deficit, modest public debt, and significant international reserve buffers. Executive Directors have praised the Macedonian authorities for the conduct of macroeconomic policies, which contributed to a modest downturn in Macedonia’s economy relative to other countries in the region.
Series:
Country Report No. 2010/019
Subject:
Balance of payments Current account deficits Exchange rates External debt Foreign exchange Public debt
English
Publication Date:
January 20, 2010
ISBN/ISSN:
9781451826166/1934-7685
Stock No:
1MKDEA2010001
Pages:
63
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