Activities of Emmanuel MAUREL related to 2023/0034(COD)
Shadow reports (1)
REPORT on the proposal for a decision of the European Parliament and of the Council on providing macro-financial assistance to the Republic of North Macedonia
Amendments (14)
Amendment 1 #
Proposal for a decision
Recital 3 a (new)
Recital 3 a (new)
(3a) In the conclusions it adopted in December 2022, the Council welcomed the holding in July 2022 of the first intergovernmental conference at ministerial level on North Macedonian accession to the EU, stating that it was clear recognition of the progress achieved by North Macedonia on advancing the EU reform agenda and on delivering tangible and sustained results.
Amendment 2 #
Proposal for a decision
Recital 3 b (new)
Recital 3 b (new)
(3b) In its annual World Press Freedom Index, the NGO Reporters Sans Frontières established that North Macedonia had made considerable progress in that area, rising from 90th (out of 180) in the global rankings to 57th between 2021 and 2022.
Amendment 3 #
Proposal for a decision
Recital 7
Recital 7
(7) Given that North Macedonia is an EU candidate country, which started the accession negotiations process in July 2022, the country is considered eligible to receive macro-financial assistance from the Union with more favourable criteria than the macrofinancial assistance granted to countries that are not candidates for EU accession.
Amendment 4 #
Proposal for a decision
Recital 8
Recital 8
(8) The Union’s macro-financial assistance should be an exceptional financial instrument of untied and undesignated balance-of-payments support, which aims at addressing the beneficiary’s immediate external financing needs and should underpin the implementation of a policy programme containing strong immediate adjustment and structural reform measures designed to improve the balance-of-payments position in the short term.
Amendment 5 #
Proposal for a decision
Recital 9
Recital 9
(9) Given that there are still significant residual external financing needs in the country’s balance of payments, beyond the needs met by the resources provided by the IMF, the macro-financial assistance to be provided to North Macedonia is, in the current exceptional circumstances, considered to be an appropriate response to the country's request for support in stabilising its economy, in conjunction withas a supplement to the IMF programme. The Union's macro- financial assistance would support the economic stabilisation and the structural reform agenda of North Macedonia, supplementing resources made available under the IMF's financial arrangement.
Amendment 6 #
Proposal for a decision
Recital 10
Recital 10
(10) The Union's macro-financial assistance should aim to stimulate its economic and social development and thereby support the restoration of a sustainable external financing situation for North Macedonia thereby supporting its economic and social development.
Amendment 7 #
Proposal for a decision
Recital 16
Recital 16
(16) A pre-condition for granting the Union's macro-financial assistance should be that North Macedonia respects effective democratic mechanisms – including a multi-party parliamentary system – and the rule of law, and guarantees respect for human rights. In addition, the specific objectives of the Union's macro-financial assistance should strengthen the efficiency, transparency and accountability of the public finance management systems, the governance and supervision of the financial sector and promote structural reforms aimed at supporting sustainable and inclusive growth, decent employment creation and fiscal consolidation. Both the fulfilment of the preconditions and the achievement of those objectives should be regularly monitored by the Commission.
Amendment 8 #
Proposal for a decision
Article premier – paragraph 1
Article premier – paragraph 1
1. The Union shall make macro- financial assistance of a maximum amount of EUR 100 million available to North Macedonia ("the Union's macro-financial assistance"), with a view to supporting the country’s economic stabilisation and a substantive reform agenda. The entireHalf that amount shall be provided in the form of loans and the other half in the form of grants. The release of the Union's macro- financial assistance is subject to the approval of the Union budget for the relevant year by the European Parliament and the Council. The assistance shall contribute to covering the balance of payments needs of North Macedonia as identified in the IMF programme.
Amendment 9 #
Proposal for a decision
Article premier – paragraph 2
Article premier – paragraph 2
2. In order to finance the part of the macro-financial assistance provided as a loan, the Commission shall be empowered on behalf of the Union to borrow the necessary funds on the capital markets or from financial institutions and to on-lend to North Macedonia the corresponding amounts under the conditions applicable to the borrowings. The loans shall have a maximum average maturity of up to 15 years.
Amendment 10 #
Proposal for a decision
Article premier – paragraph 3 – subparagraph 1
Article premier – paragraph 3 – subparagraph 1
The release of the Union's macro-financial assistance shall be managed by the Commission in a manner consistent with the agreements or understandings reached between the IMF and North Macedonia, and with the key principles and objectives of economic reforms set out in the EU-North Macedonia Stabilisation and Association Agreement.
Amendment 11 #
Proposal for a decision
Article 3 – paragraph 1
Article 3 – paragraph 1
1. The Commission shall, in accordance with the examination procedure referred to in Article 7(2), agree with the authorities of North Macedonia on clearly defined economic policy and financial conditions, focusing on structural reforms andonditions that are oriented towards economic and social development with a view to a return to sound public finances, to which the Union's macro-financial assistance is to be subject , that are to be laid down in a Memorandum of Understanding ("the Memorandum of Understanding") which shall include a timeframe for the fulfilment of those conditions. The economic policy and financial conditions set out in the Memorandum of Understanding shall be consistent with the agreements or understandings referred to in Article 1(3), including the macroeconomic adjustment and structural reform programmes implemented by North Macedonia with the support of the IMF.
Amendment 12 #
Proposal for a decision
Article 3 – paragraph 3
Article 3 – paragraph 3
3. The detailed financial terms of the Union's macro-financial assistance shall be laid down inprovided in the form of a Lloan Agreement toshall be concluded between the Commission and North Macedonia.
Amendment 13 #
Proposal for a decision
Article 3 – paragraph 4
Article 3 – paragraph 4
4. The Commission shall verify, at regular intervals, that the conditions referred to in Article 4(3) continue to be met, including whether the economic policies of North Macedonia are in accordance with the objectives of the Union's macro-financial assistance. For that verification, the Commission shall coordinate closely with the IMF and the World Bank, and, where necessary,The Commission shall carry out that verification in coordination with the European Parliament and the Council.
Amendment 14 #
Proposal for a decision
Article 4 – paragraph 3 – subparagraph 1 – point b
Article 4 – paragraph 3 – subparagraph 1 – point b