Skopje, 24 September 2025 (MIA) - National Bank Governor Trajko Slaveski said Wednesday that he will sign a letter of intent regarding North Macedonia's accession to the instant payment system, alongside other countries from the Western Balkans, at the annual IMF/World Bank meetings in Washington in mid-October.

"On October 15, I will sign the letter of intent, meaning that we are preparing to put this system into operation as of next year, along with the other five countries in the area," Governor Slaveski told reporters.

He added this is another step towards integration into the EU payment systems, benefiting Macedonian citizens and companies.

"This is a real-time system that is executed within seconds, operating 24/7 rather than by 3 pm. This is a system of the European Central Bank (ECB), which has authorized the Bank of Italy to develop a clone for the countries of the Western Balkans. We have notified the Bank of Italy that we are fully prepared to join this process," said Slaveski.

He failed to give details about the difference between the system used in the EU and the one that is now available for the Western Balkans, while adding "this is a significant step forward".

As of July 1, the country has joined the Single Euro Payments Area (SEPA), which will facilitate the sending and receiving funds from abroad, reduce transaction costs and improve speed and safety of payments in euros.

Photo: MIA