Today, the National Bank of the Republic of Macedonia Council held its twelfth session at which new non-standard monetary policy measures to mitigate the consequences of the crisis were adopted, by support of lending and improving the country's balance of payments position, which should ultimately contribute to boosting the economic growth of the country
Skopje, 29 November 2012
Press release of the NBRM
Today, the National Bank of the Republic of Macedonia Council held its twelfth session at which new non-standard monetary policy measures to mitigate the consequences of the crisis were adopted, by support of lending and improving the country's balance of payments position, which should ultimately contribute to boosting the economic growth of the country.
The latest measures of the National Bank bring changes in the reserve requirement instrument. The novelties in the Decision on the reserve requirement allow a reduction of the base for banks' reserve requirements for the amount of the new loans to net exporters and domestic producers of electricity, as well as for investments in debt securities in the domestic currency without a currency clause, issued by the aforementioned companies. These changes, in fact, create conditions for reducing the cost of loans to net exporters and domestic producers of electricity, while contributing to the increase in the volume of credit support for these important sectors of the economy. Given that it is a non-standard measure, this change is planned to be applied until year 2014, when depending on the results achieved, the need for its further application will be examined.
At today's session, the Council reviewed and adopted the Decision on amending the Decision on the manner and conditions for exchange of banknotes and coins which have become unfit for circulation. The novelties in this Decision more precisely define and strengthen the role of the National Bank in terms of maintaining the quality of the banknotes and coins at a high level, through its direct involvement in the control of the processing with banks, as direct perpetrators of this activity.
At today's session, the Council also discussed other issues within its jurisdiction.
Governor's Office
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