23rd April 2020, Skopje – International Monetary Fund (IMF) has provided significant support in the amount of EUR 176 million through the Rapid Financing Instrument, and it will continue providing support as possible for a more adequate response to the challenges and sooner recovery of the Macedonian economy. Economic fundamentals are sound, adequate measure are being undertaken which will help the economy in responding to the COVID-19 pandemic shock.
These are just some of the recommendations from the meeting of the Governor of the National Bank, Anita Angelovska-Bezhoska, and the Minister of Finance, Nina Angelovska, to the IMF European Department Director, Poul Thomsen, held within the virtual IMF/World Bank Spring Meetings.
As pointed out at the meeting, the Coronavirus crisis will lead in decline in global economic activity in 2020. IMF projections have already clearly shown this. However, decline in the Macedonian economy, and the developing economies in general, will be lower compared to the one expected for the developed economies. Should the Coronavirus crisis subside globally by mid-2020, Macedonian economy will recover and its growth will accelerate the next year already.
On Wednesday, Governor of the National Bank, Anita Angelovska-Bezhoska, and the Minister of Finance, Nina Angelovska, also took part in the meeting of the IMF/World Bank Constituency, in which our country is a member. Discussion was focused on the challenges the Constituency member states, the region in particular, face.
IMF will continue monitoring the developments in the Macedonian economy, as well as being in constant communication with both the National Bank and the Ministry of Finance.