My internship was performed in the Republic of Macedonia, more exactly, at its National Bank.
This institution is the one that deals with the macroeconomic policies applicable in the country. These policies allow a stable and long term economic development of one country.
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I opted for Macedonia because it is the country of my origins, and also because I think one day I will be able to work for one of the Macedonians institutions. So this internship will help me find out how these kind of institutions really work, what is the aim of their work.
Macedonia is in a transition process, that undoubtedly is always characterized by numerous difficulties, which are, in general, very similar to other countries living these same processes.
The mail purpose of the government of Macedonia is the integration of the country in some international organizations such as NATO or the European Union.
While its integration in NATO would secure the borders of the country, and a long term stability (as we know that some under ethnic conflicts had risen in 2001), the integration in the EU, which is far more complicated and demands a very high responsibility of the government, will boost the economic development of this small country with a little bit more than 2 million citizens.
The importance of the National Bank, in terms of these integrations, is unavoidable. The Bank is responsible for the monetary policy and economy, for important indexes such as Inflation Rate, CPI (consumer price index), which indexes help to clarify the development of the country in a long term.
The economic stability, and the territorial stability, are two very important things, in order that Macedonia could be part of the big European family, and become a potential country that will attract foreign investments at a much higher degree.
the National Bank shall perform the following functions:
establish and conduct the monetary policy;
regulate the liquidity in the international payments;
establish and conduct the Denar exchange rate policy;
handle and manage the foreign exchange reserves;
regulate the payment system;
grant founding and operating license to a bank and a savings house and supervise the banks and savings houses;
grant a license for performing services of prompt money transfer and supervise the operations of the entities performing services of prompt money transfer in accordance with a law;
grant operating license to foreign exchange bureaus and supervise their operations in accordance with a law;
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