Former Yugoslav Republic of Macedonia: Selected Issues Paper

IMF Staff Country Reports, June 26, 2013

Source details

Canonical URL

Former Yugoslav Republic of Macedonia: Selected Issues Paper

Other formats

• Markdown version
• Structured JSON version
• Bundle manifest

Bibliographic details

• Published: June 26, 2013
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781484336670.002

Overview

• Publication date: June 26, 2013
• Series: Country Report No. 2013/179
• Summary of content:
  • The Macedonian labor market exhibits a high unemployment rate, yet does not demonstrate obvious and large enough constraints on the demand or supply side.
  • Considerable achievements can be made by maintaining macroeconomic stability, attracting FDI, and closing the educational gaps.
  • The second paper assesses ways in which the Macedonian financial sector could better contribute to growth and real convergence, taking stock of where the sector stands and its recent developments.
  • Streamlining bankruptcy procedures, improving collateral and systematic collection and publication of real estate sales data, and revisiting the interest rate cap may serve to moderately boost credit supply.

Labor market: findings and implications

• Findings:
  • High unemployment rate is a central characteristic of the Macedonian labor market.
  • No obvious and large enough constraints on the demand or supply side are identified in the summary.
• Implications and policy directions:
  • Maintain macroeconomic stability.
  • Attract foreign direct investment (FDI).
  • Close educational gaps to improve labor market outcomes.

Financial sector: findings and policy recommendations

• Assessment focus:
  • How the Macedonian financial sector could better contribute to growth and real convergence.
  • Stocktaking of where the sector stands and its recent developments.
• Policy recommendations (explicitly stated in the source summary):
  • Streamline bankruptcy procedures.
  • Improve collateral frameworks.
  • Systematically collect and publish real estate sales data.
  • Revisit the interest rate cap.
• Expected effect:
  • The recommended measures may serve to moderately boost credit supply.

Subject areas and keywords (as listed)

• Subject: Banking, Commercial banks, Credit, Financial institutions, Labor, Labor markets, Money, Wages
• Keywords: bank, brain drain, Central and Eastern Europe, Central Asia, Commercial banks, CR, Credit, credit growth, credit supply, Eastern Europe, equilibrium credit level, Europe, financing, financing model, Global, ISCR, labor market, Labor markets, Macedonian bank, private sector, reservation wage, wage, Wages

Content in this bundle

• Former Yugoslav Republic of Macedonia: Selected Issues; IMF Country Report 13/179; June 3, 2013
  • Former Yugoslav Republic of Macedonia: Selected Issues; IMF Country Report 13/179; June 3, 2013 (Markdown version)
  • Former Yugoslav Republic of Macedonia: Selected Issues; IMF Country Report 13/179; June 3, 2013 (PDF)