Macedonia’s foreign reserves up 18.6% y/y at end-October

By bne IntelliNews November 10, 2014

Macedonia’s gross foreign reserves widened by 18.6% y/y to €2.43bn at end-October, after expanding by 17.9% y/y at end-September, preliminary central bank data showed. We estimate that the current reserve coverage is about five months of imports of goods and services.

On a monthly comparison basis, the total reserves stock edged down 0.2% after shrinking 0.6% in September.

We remind that Macedonia sold a €500mn 7-year Eurobond on July 17. The proceeds will be used for funding parts of the 2014 and 2015 budgets, as well as for repaying a €150mn Eurobond due in 2015 and IMF loans worth a total of €220mn.

The value of monetary gold decreased by 3.8% y/y to €203.6mn at end-October, while the value of SDRs rose 19.5% y/y to €4.7mn. The value of currency and deposits went up 27.1% y/y to €194.5mn, and the value of securities increased by 20.6% y/y to €2.03bn.

Official reserve assets, €mn          
  Oct'13 Sep'14 Oct'14 % y/y % m/m
Monetary gold 211.7 208.0 203.6 -3.8% -2.1%
SDRs 3.9 4.1 4.7 19.5% 14.8%
Foreign currency reserves          
- Currency and deposits 153.0 277.3 194.5 27.1% -29.9%
- Securities 1,679.6 1,945.6 2,026.3 20.6% 4.1%
TOTAL official reserve assets 2,048.2 2,435.0 2,429.1 18.6% -0.2%
Source: Central bank          
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

ArcelorMittal proposes to divest assets in Czech Republic, Macedonia and Romania

International steel and mining company ArcelorMittal said on April 13 it has proposed a divestment package to the European Commission in a bid to obtain approval for its planned acquisition of ... more

Macedonian MPs debate no-confidence motion against government

Macedonian MPs started debating a no-confidence motion filed by the opposition VMRO-DPMNE party against the government on April 11. The opposition party accused the government of increasing crime and ... more

Bulgaria’s Borissov appeals to Western Balkan leaders to preserve peace

Boyko Borissov, prime minister of the current EU Council chair Bulgaria, called on April 10 on the leaders of the Western Balkan countries to preserve peace and ... more

Most Read

  1. Romanian developers get in the game
    3 days ago
  2. Putin and Trump trying to walk back Syria strike and sanctions tensions
    4 days ago
  3. What’s the cost of US sanctions on Russia?
    5 days ago
  4. E-commerce dramatically eats into foot traffic at Moscow’s leading shopping malls
    16 days ago
  5. Romania entrepreneur aims to put home-grown UAV defence technology industry on the map
    5 days ago
  1. Fears raised of US conditioning F-35s sale on Turkey cancelling S-400 deal with Russia
    25 days ago
  2. COMMENT: Whisper it – ‘Erdonomics’ could be driving Turkey to a meltdown
    12 days ago
  3. Romanian developers get in the game
    3 days ago
  4. KRUK REPORT: Nadia Savchenko, Ukraine’s fallen hero
    30 days ago
  5. Putin and Trump trying to walk back Syria strike and sanctions tensions
    4 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss