Macedonia’s foreign reserves rise 25.5% y/y to €2.48bn at end-January

By bne IntelliNews February 9, 2015

Macedonia’s gross foreign reserves increased by 25.5% y/y to €2.48bn at end-January, after expanding by a revised 22.3% y/y at end-December, preliminary central bank data showed. We estimate that the current reserve coverage is equal to about five months of imports of goods and services.

On a monthly comparison basis, the total reserves stock rose 1.9% at end-January, after growing by 0.8% a month earlier.

We remind that Macedonia sold a €500mn 7-year Eurobond on July 17 in a bid to fund parts of the 2014 and 2015 budgets and to repay a €150mn Eurobond due in 2015 and IMF loans worth a total of €220mn.

The value of monetary gold went up 22% y/y to €244.4mn at end-January, while the value of SDRs fell 1% y/y to €4.4mn. Currency and deposits increased 73.3% y/y to €245.8mn, and the value of securities rose 21.8% y/y to €1.99bn.

Official reserve assets, €mn          
  Jan'14 Dec'14 Jan'15 % y/y  % m/m
Monetary gold 200.4 215.6 244.4 22.0% 13.3%
SDRs 4.5 4.3 4.4 -1.0% 4.6%
Foreign currency reserves          
- Currency and deposits 141.8 272.8 245.8 73.3% -9.9%
- Securities 1,632.4 1,943.7 1,989.1 21.8% 2.3%
TOTAL official reserve assets 1,979.1 2,436.5 2,483.7 25.5% 1.9%
Source: Central bank          

Related Articles

Macedonian parliament expected to vote in new government on May 30

The Macedonian parliament is due to vote on the new Social Democrat-led government on May 30, after prime minister-designate Zaran Zaev submitted the list of ministers and the draft programme to the ... more

Skopje court rejects special prosecutor's request to freeze VMRO assets

A Skopje court rejected a request from the Special Prosecutor's Office (SPO) to freeze part of the assets of the conservative VMRO-DPMNE party on May 23, according to local media reports. SPO ... more

Suspended sentences issued for Macedonian parliament violence

Nine people indicted for their role in violent incidents in the Macedonian parliament at the end of April were given suspended sentences by a Skopje court on May 23.  The nine were indicted ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Dismiss