Macedonian Central Bank Governor Anita Angelovska – Bezovska again assured the public that the exchange rate of the denar is stable and healthy and that the banking system is able to withstand the economic downturn caused by the coronavirus.

She said that capital adequacy levels are at 17 percent, higher than the 2008 financial crisis, and that banks have plenty of liquid assets.

Non performing loans levels are at just 4.8 percent of all credit exposure. This tells us that our banking system has enough ability to deliver the necessary support to the citizens and the corporations, Angelovska said.

She added that the initial steps taken by the NBRM Central Bank will help debtors without affecting financial stability. NBRM lowered its interest rate, which the bank hopes will help provide loans to the worst hit industries.

Forex reserves used to prop up the value of the denar are at three billion EUR, which Angelovska said is also adequate.