Skopje, 28 June 2001
Press release of the NBRM
The National Bank of the Republic of Macedonia Council reviewed and adopted new Monetary Policy Projection for 2001 as well as several other decisions from the monetary, foreign exchange and supervisory area, on its LXXXIX Session held on June 28, 2001.
The Monetary Policy Projection for 2001 represents part of the redesigned macroeconomic policy of the country for the second half of 2001, in accordance with the last negotiations held with the IMF mission. In fact, it is a revision of the basic presumptions the adopted Monetary Policy Projection for 2001 was based on. However, maintaining the stability of the foreign exchange rate of Denar against Deutsche Mark, remains to be a nominal anchor in the economy, which is to be defended by all available instruments of the macroeconomic policy. According to the revised Monetary Policy Projection for 2001, an increase of 6.8% in the bank’s placements to the non-government sector is planned.
The National Bank of the Republic of Macedonia Council adopted a decision on increase in the discount rate from 7.9% to 10.7%, and a decision on decrease in the amount that can be kept on the accounts abroad by banks authorized for payment and credit operations abroad. These decisions are in function of stabilizing the fluctuations on the foreign exchange market and maintenance of the exchange rate of the Denar as a nominal anchor in the Macedonian economy.
Hence, the NBRM Council reviewed and adopted several decisions from the supervision area, which actually mean a finalization of the basic package of supervision regulations and are aimed at harmonization with so-called 25 Basic Principals for Efficient Supervision in Banks and with the European Union regulations.
The Governor’s Office
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