IMF Staff Concludes Visit to Kosovo
IMF News, August 9, 2023
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- IMF Staff Concludes Visit to Kosovo
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Bibliographic details
- Published: August 9, 2023
Macroeconomic overview and staff assessment
- Press Release No. 23/286; August 9, 2023.
- IMF team visit: Pristina, Kosovo from July 31 to August 4, 2023.
- Core staff assessment (direct quote): “Amid a challenging global context, macroeconomic conditions in Kosovo have remained favorable so far in 2023. Growth remains resilient, inflation continues to decline, and the current account deficit has started to narrow. Fiscal revenues continue to grow at a healthy pace, the implementation of public investment program has picked up, and fiscal buffers have remained at appropriate levels. However elevated global volatility and tensions in northern Kosovo remain risks to the outlook that if materialized could add to policy challenges”.
- Specific concern (direct quote): “In particular, recent developments in four northern municipalities led to temporary and reversible measures by some traditional donors and partners that restrict new economic and financial collaboration. While these measures are not expected to impact the outlook if reversed in the short term, they could become an obstacle to foreign direct investment and economic development more generally if sustained for longer.”
Program implementation and timelines
- Visit purpose: discuss recent macroeconomic and other developments, including progress in the implementation of the precautionary Stand-By Arrangement (SBA) and the Resilience and Sustainability Facility (RSF).
- Progress: IMF team “took stock of the good progress made toward meeting key commitments under the Fund-supported programs.”
- Next formal assessment: “Actions under the SBA and the RSF will be formally assessed during the first review mission expected to take place in October.”
Policy dialogue and 2024 budget
- Discussions included recent macroeconomic and policy developments and progress on the 2024 draft budget.
- IMF team emphasized continuation of engagement “in support of Kosovo and its people.”
Stakeholder engagement and meetings
- IMF team leader: Mr. Gabriel Di Bella.
- Meetings held with:
- President Osmani
- Prime Minister Kurti
- Deputy Prime Minister Bislimi
- Acting CBK Governor Nurboja
- Minister of Finance, Labor and Transfers Murati
- Minister of Economy Rizvanoli
- Other senior government officials
- Key stakeholders in the energy sector, representatives from the private sector, representatives from the international community, and development partners.
- Closing acknowledgement (direct quote): “We would like to thank the authorities for candid discussions and their warm hospitality. We look forward to continuing our engagement in support of Kosovo and its people.”
Communications and media contact
- IMF Communications Department, MEDIA RELATIONS.
- PRESS OFFICER: Meera Louis
- Phone: +1 202 623-7100
- Email: MEDIA@IMF.org
- Twitter: @IMFSpokesperson
Source: IMF Staff Concludes Visit to Kosovo — Press Release No. 23/286; August 9, 2023. https://www.imf.org/en/news/articles/2023/08/08/pr23286-imf-staff-concludes-visit-to-kosovo
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- Press Release-English