Alta Bank controversy sparks political conflict in North Macedonia

The entry of Alta Bank into the North Macedonian financial market has triggered a sharp political confrontation between the ruling VMRO-DPMNE and the opposition SDSM.

SDSM leader Venko Filipce has called for the resignation of National Bank Governor Trajko Slaveski, alleging that the governor failed to properly vet the bank's capital and ownership. Filipce raised questions regarding the reputation of the bank's owner, Davor Macura, who is reportedly in custody, and questioned whether the government failed to monitor suspicious financial transfers. The opposition expressed concerns that the country could become a haven for questionable Russian-Serbian capital linked to corruption and organized crime.

In response, VMRO-DPMNE and Marija Miteva, president of the party's Women's Union, accused the SDSM of spreading fake news and inciting panic to create a market environment where business interests close to the opposition could acquire the bank at a lower price. Miteva defended the National Bank's prompt actions to maintain monetary stability and dismissed the opposition's claims as politically motivated attempts to destabilize the banking system.