The National Bank of the Republic of North Macedonia published a readout of Governor Anita Angelovska-Bezoska’s engagements at the International Monetary Fund (IMF) and World Bank Spring Meetings, where discussions with IMF counterparts covered the economy’s resilience after successive crises and the implications of a more uncertain external environment. The central bank pointed to foreign exchange reserves being around 40% higher than in the pre-crisis period, attributing this largely to solid foreign direct investment inflows, which reached 7.1% of GDP in 2024. In meetings with senior IMF officials, the resilience of the banking system was also assessed as having strengthened, reflected in a significantly improved capital position that supports credit growth, with the largest increase in capital adequacy in the region and compared with European Union countries. The governor highlighted IMF projections revising down global growth and expecting a slower disinflation process, with downside risks linked to trade wars and unpredictable trade policies, and reiterated the central bank’s focus on maintaining a stable exchange rate and price stability.
National Bank of the Republic of North Macedonia 2025-04-26
National Bank of the Republic of North Macedonia highlights 40% higher foreign exchange reserves and stronger bank capital at IMF Spring Meetings
The National Bank of the Republic of North Macedonia reported on Governor Anita Angelovska-Bezoska’s participation in the IMF and World Bank Spring Meetings, focusing on economic resilience and external uncertainties. Foreign exchange reserves have increased by 40% since the pre-crisis period, driven by foreign direct investment inflows of 7.1% of GDP in 2024. The banking system's resilience has improved, with a stronger capital position supporting credit growth, while IMF projections indicate slower global growth and disinflation amid trade-related risks.