Governor Slaveski meets Bo Li, IMF Deputy Managing Director: Strong support for central bank independence and vigilance amid global risks

Skopje, 19 April 2026

The National Bank Governor, Dr. Trajko Slaveski, together with Finance Minister Dimitrieska-Kochoska and the delegation, met with Bo Li, Deputy Managing Director at the IMF, during the IMF and World Bank Spring Meetings held in Washington.

The discussions took place against the backdrop of heightened global uncertainty driven by geopolitical tensions in the Middle East. Particular attention was given to the implications for global energy flows, inflationary pressures, and broader economic prospects. Both sides exchanged views on the importance of close risk monitoring and the need for timely policy preparedness to effectively address potential spillover into the domestic economy.

Special emphasis was placed on the risk of indirect, second-round effects on inflation. It was underscored that the National Bank is closely monitoring developments and stands ready to respond, if necessary, using available monetary policy instruments to preserve price stability.

Governor Slaveski reaffirmed the National Bank's commitment to prudent, consistent, and credible monetary policy, aimed at maintaining price stability and safeguarding financial stability in an environment of elevated global uncertainty.

The discussions also highlighted the critical importance of central bank independence - including operational and financial independence - as a key prerequisite for effective and timely monetary policy implementation and for maintaining public confidence in institutions. In this context, it was noted that strong and stable institutional frameworks are especially vital during periods of external shocks and rapid changes in the global environment.

The meeting further reaffirmed the value of ongoing cooperation between the National Bank and the IMF, as well as the Fund's continued support for strengthening analytical and institutional capacities.

Overall, the meeting confirmed a shared commitment to preserving macroeconomic stability and enhancing economic resilience in the face of rising global risks, with central banks remaining a cornerstone of stability.

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