12th June 2026, Skopje - Today, the Ministry of Finance hosted a regional workshop on Peer Learning Exchange under the Government Debt and Risk Management Program – GDRM.
Participants were welcomed by Minister of Finance, Gordana Dimitrieska-Kochoska, who expressed her appreciation for the longstanding support provided by the World Bank and the Swiss State Secretariat for Economic Affairs (SECO), through which the Program is implemented. She stressed that owing to GDRM Program, the Ministry of Finance today stands as part of a strong international network of institutions and experts dedicated to advancing public debt management and fiscal risk management
“Republic of Macedonia joined the GDRM Program in 2016, and ever since, through joint efforts and technical support, we have considerably strengthened the institutional capacities in managing public debt. We are particularly appreciative of the support provided in enhancing the legal framework, modernizing the debt recording system, developing the domestic market for government securities, preparing annual borrowing plans and strengthening the analytical tools for risk management”, the Minister pointed out
By underlining the significance of fiscal risks, which formed the central theme of the workshop, the Minister noted that the country has established robust institutional and legal foundations for their effective management.
“Law on Public Debt and the related bylaws set out a well-defined framework for issuing sovereign guarantees, while the Ministry of Finance conducts thorough creditworthiness analyses of the public debt issuers, evaluating their liquidity, solvency, profitability and financial sustainability. However, contingent liabilities by their very nature are dynamic and require continuous monitoring” – Minister stated, adding that the purpose is to further strengthen the framework for managing contingent liabilities by applying more advanced methodologies for assessing credit risk and expected losses, strengthening monitoring and reporting systems, and fully integrating these risks into public debt management and fiscal planning.
She stressed that this workshop will contribute to building more resilient public finances, safeguarding budgets against unforeseen shocks, and ensuring sustainable economic development.
“Ministry of Finance remains firmly committed to further strengthening the framework for managing fiscal risks and contingent liabilities, and will persist in fostering close cooperation with the World Bank and our international partners in pursuing this objective”, the Minister stated.
Opening remarks were also delivered by His Excellency the Ambassador of the Swiss Confederation to North Macedonia, Stefano Lazzarotto, and the World Bank Country Manager for North Macedonia and Kosovo, Carol Megevand.
