Former Yugoslav Republic of Macedonia: Selected Issues

June 8, 2012

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Former Yugoslav Republic of Macedonia: Selected Issues, (USA: International Monetary Fund, 2012) accessed November 21, 2024

Summary

This Selected Issues Paper assesses Macedonia’s public debt markets and presents recommendations for their further development. Macedonia’s domestic debt market is in the early stages of development and is small by regional standards. The paper also analyzes the main causes of euroization in Macedonia. It discusses the nature of monetary policy in Macedonia where despite an exchange rate peg owing to imperfect capital mobility, there exists some degree of autonomy in the conduct of monetary policy in the short term.

Subject: Central bank policy rate, Currencies, Domestic debt, Exchange rate arrangements, Financial services, Foreign exchange, Government debt management, Public debt, Public financial management (PFM)

Keywords: Central bank policy rate, CR, Debt, Debt market, Depreciation volatility, Domestic debt, Europe, FX lending, FX-indexed loan, Global, Government debt management, ISCR, Market development, Monetary policy stance, NBRM interest rate policy, Policy rate

Publication Details

Pages:

34
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2012/134
Stock No:

1MKDEA2012002
ISBN:

9781475504156
ISSN:

1934-7685

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