Macedonia: bonds

The Republic of Macedonia, officially referred to by the United Nations and many countries as the Former Yugoslav Republic of Macedonia (FYROM), is an independent state on the Balkan peninsula in southeastern Europe. It is often called Macedonia, but this can cause confusion with the wider geographical region of Macedonia and the Greek region of Macedonia. The lands governed by the Republic of Macedonia were previously the southernmost part of Yugoslavia. Its current borders were fixed shortly after World War II when socialist Yugoslavia established the Socialist Republic of Macedonia, recognising the Macedonians as a separate nation within Yugoslavia. Renamed as the Republic of Macedonia in 1991, it seceded peacefully from Yugoslavia without any further territorial changes. However, since then the country has been embroiled in a prolonged political dispute with Greece concerning its use of the name "Macedonia". International organisations and many nations refer to the country as the Former Yugoslav Republic of Macedonia (FYROM), the term used in its admission to the United Nations, but many other countries recognise it under its constitutional name "Republic of Macedonia". The Republic of Macedonia encompasses only a part of the geographical region of Macedonia: the remainder is divided between neighbouring Greece (with about half of the total) and Bulgaria (with under a tenth).
Capital Skopje
Currency Macedonian Denar (MKD)
Time zone – in summer CET (UTC+1) CEST (UTC+2)
Internet TLD .mk
Calling Code 389

Outstanding bond issues

Сurrency Outstanding bond issues Cumulative volume
sovereign
MKD 151 47 152 690 000
EUR 12 1 658 500 000

Sovereign rating

Rating AgencyRatingRating scaleDate
RIA Rating *** Sovereign ratings ***
Organisation for Economic Co-operation and Development (OECD) *** Country Risk Classifications ***
S&P Global Ratings *** Foreign Currency LT ***
S&P Global Ratings *** Local Currency LT ***
Fitch Ratings *** LT Int. Scale (foreign curr.) ***
Fitch Ratings *** LT Int. Scale (local curr.) ***
National Rating Agency *** Global scale ***
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Latest bond issues

issue ISIN coupon volume end of placement maturity date
Macedonia, GB 3.8 29jun2032 - Domestic bonds MKMINF20GL78 3.8% 900 000 000  MKD 06/27/2017 06/29/2032
Macedonia, GB 3.8 22jun2032 - Domestic bonds MKMINF20GL60 3.8% 345 020 000  MKD 06/20/2017 06/22/2032
Macedonia, GB 3.8 8jun2032 - Domestic bonds MKMINF20GL52 3.8% 300 000 000  EUR 06/06/2017 06/08/2032
Macedonia, GB 2.1 18may2019 - Domestic bonds MKMINF20GL45 2.1% 535 300 000  MKD 05/16/2017 05/18/2019
Macedonia, GB 3.8 4may2032 - Domestic bonds MKMINF20GL37 3.8% 185 000 000  MKD 05/02/2017 05/04/2032
Macedonia, GB 2.1 4may2019 - Domestic bonds MKMINF20GL29 2.1% 425 010 000  MKD 05/02/2017 05/04/2019
Macedonia, GB 3.8 6apr2032 - Domestic bonds MKMINF20GL11 3.8% 227 000 000  MKD 04/04/2017 04/06/2032
Macedonia, GB 3.8 30mar2032 - Domestic bonds MKMINF20GL03 3.8% 183 470 000  MKD 03/28/2017 03/30/2032
Macedonia, GB 3.8 23mar2032 - Domestic bonds MKMINF20GK95 3.8% 456 550 000  MKD 03/21/2017 03/23/2032
Macedonia, GB 2.1 23mar2019 - Domestic bonds MKMINF20GK87 2.1% 878 000 000  MKD 03/21/2017 03/23/2019

World Bond market statistics

Monthly indices

Type May 2017 Apr 2017 Mar 2017 Feb 2017 Jan 2017 Dec 2016 Nov 2016
Domestic government bond market (Eastern Europe)
Makedonian govt Bonds outst., EUR bln (without Bills) 12.94 12.93 12.93 12.88 12.87 12.83 12.85
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Quarterly indices

Type I 2017 IV 2016 III 2016 II 2016 I 2016 IV 2015 III 2015
BIS volume of international-bond market of emerging countries
Macedonian international bonds, USD bln 1.300 1.300 1.400 0.900 0.900 0.800 0.700
BIS net issues of international-bond market of emerging countries
International-bond net issue of Macedonia, USD bln     0.500   0.000 0.100 0.000

Emerging Markets International Bonds

Monthly indices

Type May 2017 Apr 2017 Mar 2017 Feb 2017 Jan 2017 Dec 2016 Nov 2016
Eastern Europe International Bonds Markets
International bonds of Macedonia, USD bln 1.371 1.329 1.301 1.293 1.318 1.285 1.293
Sovereign international bonds of Macedonia, USD bln 1.371 1.329 1.301 1.293 1.318 1.285 1.293
Corporate international bonds of Macedonia, USD bln 0.000 0.000 0.000 0.000 0.000 0.000 0.000
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Currencies

Daily indices

Type: 06/26/2017 06/23/2017 06/22/2017 06/21/2017 06/20/2017 06/19/2017 06/16/2017
Exchange Rates (Emerging Markets)
USD/MKD 54.9835 54.9024 55.1196 55.0288 55.2286 55.1272 54.8933
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Macroeconomic Indicators (World economy)

Monthly indices

Type May 2017 Apr 2017 Mar 2017 Feb 2017 Jan 2017
Inflation Rate (World), % to the same period of the previous year
Inflation Rate (Macedonia) 1.20 1.00 0.60 0.20 0.60
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Yearly indices

Type 2016 2015
Government Debt to GDP (World), %
Government Debt to GDP(Macedonia) 40.90 38.10

Bonds prices

issue volume maturity date bid prices ask prices
date bid price yield date ask price yield
Macedonia, 3.975% 24jul2021, EUR   EUR 07/24/2021 05/18/2016 **.* *.** 05/18/2016 **.*** *.**
Macedonia, 4.875% 1dec2020, EUR   EUR 12/01/2020 05/18/2016 ***.** *.* 05/18/2016 ***.** *.**
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