12th October 2022, Skopje – Starting today, Delegation of the Republic of North Macedonia, headed by the Minister of Finance, Fatmir Besimi, and the Governor of the National Bank of the Republic of North Macedonia, Anita Angelovska-Bezhoska, will attend the Annual Meetings of the International Monetary Fund and the World Bank Group to take place in Washington. Annual Meetings focus on seeking response to coping with the energy and price crisis, promoting inclusive growth, investments in climate changes, as well as investments in human capital.
During the Meetings, Ministers of Finance, Governors of central banks, representatives of the business community, the NGOs and experts will gather in one place to discuss the prevalent issues and find possibilities to overcome them. This event provides an opportunity for formal and informal meetings among the participants.
During his stay in Washington, the Minister will meet several high IMF and WB officials, among which the World Bank Group Executive Director, Koen Davidse, WB Vice President for Europe and Central Asia, Anna Bjerde, WB Country for the Western Balkans, Xiaoqing Yu, and World Bank Country Manager for North Macedonia, Massimiliano Paolucci.
as well as IMF Executive Director, Paul Hilbers, Director of the European Department at the International Monetary Fund, Alfred Kammer, IMF Resident Representative, Bergljot Bjørnson Barkbu, and IMF Regional Representative for the Western Balkans, Stephanie Eble.
Minister Besimi will also have a meeting with representatives of the US Treasury Department, the European Bank for Reconstruction and Development and the International Finance Corporation (IFC).
At the meetings, the Minister will emphasize the efforts and the measures the Government is undertaking to cope with the energy and price crisis, at the same time maintaining the macroeconomic stability. IMF statement, ahead of the respective meetings, on North Macedonia’s access to Precautionary and Liquidity Line, speaking of its sound economic policies, is of crucial importance.
“Escalating geopolitical situation in Europe, in particular as regards gas supplies, indicates that a rough winter lies ahead throughout Europe, our country as part of Europe, and globally. This is a large-scale crisis and we, as a small developing economy, cannot fully absorb its impact.
Therefore, unity and solidarity to overcoming it and support at times like this are crucial”, Minister of Finance, Fatmir Besimi, said.
Measures undertaken to manage the crisis and their financing, fiscal sustainability and reforms planed with the recently adopted Organic Budget Law, being the key reform for greater accountability, digitalization and better long-term planning, as well as digitalization of the processes by establishing the IFMIS system, a project implemented with the support of the World Bank, will be presented at the meetings. Special focus will be put on the investments planned by the Government in the energy sector, renewable sources of energy, energy efficiency, diversification in supply of energy products and support thereto, which has proved to be of crucial importance amid this crisis.
The 2022 Annual Meetings of the International Monetary Fund and the World Bank Group will take place from 10th October through 16th October in Washington DC.