Former Yugoslav Republic of Macedonia: Selected Issues for the 2009 Article IV Consultation

January 21, 2010

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Former Yugoslav Republic of Macedonia: Selected Issues for the 2009 Article IV Consultation, (USA: International Monetary Fund, 2010) accessed November 21, 2024

Summary

This Selected Issues paper assesses the desired level of foreign exchange reserves in the Former Yugoslav Republic of Macedonia, given its commitment to maintain the exchange rate peg. A variety of methods including popular rules of thumb, comparisons with other emerging countries, and model-based estimates suggest a target range of €1.5–2 billion for reserves. The paper also looks at reserve levels that would be implied by popular rules of thumb and at benchmarks suggested by other emerging market countries.

Subject: Conventional peg, Emerging and frontier financial markets, Fiscal stance, Monetary base, Public debt

Keywords: CR, Debt ratio, Exchange rate, ISCR, Monetary policy

Publication Details

Pages:

30
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/020
Stock No:

1MKDEA2010002
ISBN:

9781451826173
ISSN:

1934-7685

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