Former Yugoslav Republic of Macedonia: Staff Report for the 2001 Article IV Consultation

International Monetary Fund

No 2002/047, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2001 Article IV Consultation highlights that after three consecutive years of generally favorable performance, the economy of the Former Yugoslav Republic of Macedonia (FYRM) suffered a setback in 2001 because of a six-month security crisis. Output declined markedly and new outlays on security operations and weak revenues contributed to a large expansionary fiscal swing. Owing to a deterioration of the external current account position, the foreign exchange loss was heavy. However, the impact on reserves was cushioned by sizable privatization inflows in early 2001.

Keywords: ISCR; CR; FYRM authorities; government; receipt; FYRM; GDP; privatization receipt; loss-making enterprise; exchange rate; foreign exchange; IMF Concludes; Imports; Eastern Europe; Europe (search for similar items in EconPapers)
Pages: 54
Date: 2002-03-08
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