Republic of North Macedonia:Request for an Arrangement under the Precautionary and Liquidity Line-Press Release; Staff Report; and Statement by the Executive Director for Republic of North Macedonia

North Macedonia's economy has been hit by two large external shocks. While recovering from the pandemic, the outlook deteriorated again following Russia's invasion of Ukraine and sharply rising energy and food prices.
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Volume/Issue: Volume 2022 Issue 354
Publication date: November 2022
ISBN: 9798400226342
$20.00
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International - Economics , Taxation - General , Public Finance , Money and Monetary Policy , Economics- Macroeconomics , Inflation , Exports and Imports , authorities of the Republic , A , Policy commitment , policy implementation , authorities' action , government financing , EU accession negotiations , Energy prices , Inflation , Tariffs , Global

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Summary

North Macedonia's economy has been hit by two large external shocks. While recovering from the pandemic, the outlook deteriorated again following Russia's invasion of Ukraine and sharply rising energy and food prices. Given high dependence on energy imports, the external financing need has increased, while at the same time, global financial conditions have tightened, increasing the cost of market financing.

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