Skopje, 12 July 2024 (MIA) - The central bank, as a professional and independent institution, has taken appropriate actions to tackle the last inflationary episode, contributing to the maintenance of overall stability, emphasized Governor Anita Angelovska-Bezhoska and Kenji Okamura, Deputy Managing Director of the International Monetary Fund (IMF) at a meeting, according to a press release by the National Bank.  

At the meeting, Angelovska-Bezhoska and Okamura emphasized that maintaining the National Bank’s independence is a high priority. The IMF positively assessed the National Bank’s commitment to its goals, especially the efforts to overcome the effects of the subsequent crises in the past period. Additionally, it was emphasized that in conditions of increased economic uncertainty and financial stress, central banks need to be more clearly and frequently present in the public to clarify economic trends, as well as to communicate reasons and assumptions behind any monetary decision made.

Governor Angelovska-Bezhoska emphasized that the National Bank has embraced this trend and has been constantly improving its transparency, which significantly increased the public trust and credibility of the institution, which was also reaffirmed in the IMF’s Central Bank Transparency Code Review for our country.  

“The National Bank measures brought inflation down to single-digit rates, foreign reserves have increased to a solid level, and financial stability has been strengthened,” the Bank said in the press release. 

Photo: National Bank