Cautious risk management and proper regulatory framework aligned with the best international standards have enabled the banking sector to face the coronavirus crisis in a strong position regarding capital and liquidity, agreed Anna Bjerde, World Bank Vice President for Europe and Central Asia and Linda Van Gelder, World Bank Regional Director for the Western Balkans, with National Bank Governor Anita Angelovska-Bezhoska and Vice-Governors Fadil Bajrami, Emilija Nacevska and Ana Mitreska on Monday.

The meeting, which took place within the 2021 Spring Meetings of the World Bank Group and the International Monetary Fund, heard that the resilience of the banking sector has been reaffirmed over the past year, including the maintenance of all indicators at a solid level.

In addition, the banking sector continues to ensure further credit support, contributing to the mitigation of the pandemic effects on the financial position of the population and the corporate sector balance sheets, the National Bank said in a press release.

Interlocutors agreed that the banking system parameters reflect its position regarding capital and liquidity, noting they were better than the ones at the start of the 2008-2009 global economic crisis.

This leaves more room for absorption of the potential risks and continued credit support that is key to cope with challenges imposed by the health crisis, reads the press release.

The World Bank’s support amid the pandemic was highlighted at the meeting, on the path to of the country’s sustainable recovery through mobilization of the private sector and reforms that will ensure a sustainable, comprehensive growth.