Skopje, 23 November 2020
"Representing the constituency to which North Macedonia belongs, I will strive for the IMF to continue to strongly support your country in implementing reforms and overcoming the current crisis, which is a global challenge", said the new Executive Director to the IMF, Paul Hilbers, a member of the IMF Executive Board and responsible for our country, in the first meeting after the beginning of his term, with the National Bank management.
At the virtual conferencing, Hilbers expressed confidence that the National Bank will continue to contribute to the successful cooperation and communication between North Macedonia and the IMF, and for implementing constituency commitments.
"Independence, professionalism and high standards in central bank operations are crucial for the IMF and the way it evaluates the economy. IMF support for any member state largely depends on them. During the past few months, your central bank has proven to be able to work in line with high international standards and best global practices, being aware of the necessity to stay on the right track", stressed the Executive Director to the IMF.
Reflecting on the current Covid-19 crisis, he pointed out that it is extremely important to maintain financial stability in the country at all times, while implementing an appropriate monetary policy.
"An independent central bank is a guarantor of financial and macroeconomic stability, which is essential for the IMF’s assessment", said Hilbers.
Governor Anita Angelovska Bezhoska underlined the importance of the cooperation with the IMF for the overall economy, particularly the efforts of the constituency to which our country belongs.
"The National Bank shall, within its mandate, make every effort as before. We have been constantly monitoring trends and risks arising from the current global crisis to respond appropriately to mitigate potential effects on the economy. It additionally enhances the need for communication and cooperation with the IMF, with the role of the constituency being especially important", said Governor Angelovska Bezhoska.
The meeting also tackled the most recent IMF views on the Macedonian economy. The IMF expects economic expansion over the next year, possibly hindered by the resurgence of the infection rates.