IMF completes review under PLL Arrangement for Macedonia, says Finance Ministry

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The Republic of N. Macedonia, strongly committed to implementing the ambitious reform agenda, has maintained macroeconomic and financial stability, achieved all the goals set and, according to the mission of the International Monetary Fund (IMF), continues to fulfill the criteria for access to the Precautionary and Liquidity Line (PLL), granted only to economies that have sound macroeconomic fundamentals.

According to the Ministry of Finance, this is the IMF’s conclusion on Article IV and the First Review under the Precautionary and Liquidity Line (PLL) Arrangement for North Macedonia. The completion of the review gives the authorities access to USD 200 million, within the already approved package of a total of EUR 530 million in 2022 under the PLL instrument. The first tranche of EUR 110 million was withdrawn during 2022 and the withdrawal of the second tranche of EUR 155 million is expected, while the remaining amount is provided as a precautionary insurance against external shocks. The PLL was introduced in 2011 to meet more flexibly the liquidity needs of member countries with sound economic fundamentals and strong records of policy implementation, reads the Finance Ministry’s press release.

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