Challenges with printing money with unconstitutional name


According to the orders signed by Governor Anita Angelovska Bezovska, published in the Official Gazette, the next issue of 10 and 500 denar bills will be printed with the new name of the National Bank. The order reads: “The National Bank of the Republic of Macedonia” is replaced with the words “National Bank of the Republic of North Macedonia”.

The bills with country’s illegal name will be printed successively as of next year, and the old ones will have a validity of five years or until they are withdrawn from circulation.

Due to the complexity of the procedure, the central bank should make an analysis and plan of the necessary activities for the gradual replacement of the bills, with an estimated time frame, within the regular new issues, taking into account the macroeconomic stability.

The first new bills with the new name of the National Bank could be prepared at the beginning of 2020 and then, successively, be completely replaced within 5 years from the alleged opening of the relevant EU chapters.