The repair of the banking system of the Republic of Macedonia – the process of rehabilitation of the banking system, started in March 1995, which includes three groups of activities: 1) elimination of the obligations of the banks’ balance sheet on the basis of foreign currency savings deposits of citizens, deposited in the time of the SFRY ; 2) elimination of claims and liabilities from the banks’ balance sheets on the basis of the foreign credits used; and 3) Restructuring of Stopanska Banka AD – Skopje. The obligations based on foreign exchange savings deposits deposited at the time of the SFRY (in the amount of about one billion dollars) were undertaken by the Macedonian government. Foreign loans approved by the Paris Club of Creditors (in the amount of $ 262 million) were transferred to the Bank Restoration Agency. Due to its size and dominant position in the Macedonian banking system, Stopanska Banka AD – Skopje is subject to a special program for financial rehabilitation. From its balance, the obligations on the basis of foreign currency savings deposits from the time of the SFRY (worth 18.8 billion denars), as well as the obligations and requirements for the used loans from the Paris Club (in the amount of 8.4 billion denars) were removed. Also, uncollectible loans to the Bank, amounting to nearly 5 billion denars, were transferred to the Agency for Removation of the Bank, which is issued for this amount with a repayment period of 15 years. Finally, in order to reduce the dominance of Stopanska Banka AD – Skopje, five branches are separated, which are formed as separate banks. However, the financial restructuring measures of Stopanska Banka AD – Skopje does not give the expected results and the Bank continues to face liquidity problems with “to its sale of three strategic investors during 2000. In addition, the privatization of Stopanska Banka AD – Skopje is preceded by a second wave of financial restructuring, when non-payment requirements of four enterprises, in equivalent of 120 million euros. Lit: Kiki Mangova Ponjvic, Vanco Kargov, 60 years Central Banking in the Republic of Macedonia, National Bank of the Republic of Macedonia, Skopje, 2006, 141-145. D. P. Edoardo Sanguini
Original article in Macedonian language Cyrillic alphabet
Кириличен напис САНАЦИЈАТА НА БАНКАРСКИОТ СИСТЕМ НА РМ