Skopje, 5 September 2023

The National Bank conducts appropriate policies and undertakes measures aimed towards gradual reduction of price pressures and strengthening of the banking system resilience in conditions of protracted uncertainty. These are some of the conclusions of today's meeting of the National Bank Governor and vice-governors with Sebastian Sosa, the newly appointed IMF Resident Representative in Skopje, and Stephanie Eble, the former IMF Resident Representative, who is leaving for a new position.

Discussing about the banking sector, it was emphasized that all the available liquidity, capitalization and quality ratios of the banking system portfolio indicate that it remains safe and sound. Moreover, it was emphasized that the macroprudential and microprudential measures taken so far by the National Bank further strengthened the bank’s capital position and improved loan demand quality. The effectiveness and efficiency of the measures can be seen through the growth of banks' capitalization and the historically low level of non-performing loans in their portfolios. The IMF representatives emphasized that amid protracted uncertainty, these prudential policies of the National Bank, which are yielding results, should continue.

It was also concluded that the central bank has successfully maintained the exchange rate and medium-term price stability despite the subsequent crises.

Furthermore, accent was also put on the continuous and successful cooperation between the National Bank and the International Monetary Fund in many areas related to the policy governance, including multiple key development projects that further build the National Bank institutional capacity.

Governor Anita Angelovska Bezhoska expressed appreciation for the fruitful cooperation with the former IMF resident representative in our country, noting that the IMF has been and will remain a partner in the National Bank policy making and capacity building.