Republic of Kosovo: First Review Under the Stand-By Arrangement, and Request for Modification of Performance Criteria: Staff Report; Press Release on the Executive Board Discussion.
July 17, 2012
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This paper presents findings of the First Review Under the Stand-By Arrangement (SBA) for the Republic of Kosovo. The paper highlights that macroeconomic and financial policies are broadly on-track. All end-April and continuous quantitative performance criteria under the SBA were met with comfortable margins, as a modest shortfall in revenue collection was overcompensated by underexecution of spending. The program’s key objectives remain restoring a sustainable fiscal position and sufficient government cash buffers, anchoring fiscal policy through the introduction of a fiscal rule, and enhancing the resilience of the financial system.
Subject: Banking, Budget planning and preparation, Economic sectors, Expenditure, Fiscal policy, Fiscal stance, Privatization, Public financial management (PFM)
Keywords: Budget planning and preparation, capital expenditure, cash buffer, central bank, country authorities, CR, debt service, Europe, financial system, fiscal policy, Fiscal stance, foreign direct investment, government bank balances, IMF staff estimate, ISCR, labor market, liquidity needs, private sector, Privatization, PTK privatization receipts, trust fund
Pages:
49
Volume:
2012
DOI:
Issue:
180
Series:
Country Report No. 2012/180
Stock No:
1UVKEA2012002
ISBN:
9781475506143
ISSN:
1934-7685
