European Parliament Library

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

Abstract
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
Table Of Contents
Cover; Contents; I. Executive Summary and Staff Appraisal; II. Impact of Crisis and Policy Response; A. Context: Macrofinancial Vulnerabilities and Strengths; B. Impact of Global Crisis; Figures; 1. Recent Economic Developments; 2. External Sector Developments, 2008-09; 3. Banking Sector Developments; Boxes; 1. Banking Sector Stability; C. Policy Response; 2. Macedonia's Response to Past IMF Advice; III. Macroeconomic Outlook; IV. Policy discussions; A. Fiscal Policy; 3. Debt-Sustainability Guidance for Medium-Term Fiscal Target; B. Monetary and Exchange Rate Policy
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (65 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781451884548

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