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

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  • International Monetary Fund

Abstract

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.

Suggested Citation

  • International Monetary Fund, 2003. "Former Yugoslav Republic of Macedonia: First Review Under the Stand-By Arrangement and Request for Waiver of Applicability of Performance Criteria," IMF Staff Country Reports 2003/354, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2003/354
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=17027
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    Cited by:

    1. Carlos Casacuberta & Néstor Gandelman, 2015. "Productivity, Exit, and Crisis in the Manufacturing and Service Sectors," The Developing Economies, Institute of Developing Economies, vol. 53(1), pages 27-43, March.
    2. Mr. Fabian Valencia & Mr. Luc Laeven, 2008. "Systemic Banking Crises: A New Database," IMF Working Papers 2008/224, International Monetary Fund.
    3. Julie A Kozack, 2005. "Considerations in the Choice of the Appropriate Discount Rate for Evaluating Sovereign Debt Restructurings," IMF Policy Discussion Papers 05/09, International Monetary Fund.

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