{
  "title": "Republic of Kosovo: Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Kosovo",
  "publication": "IMF Staff Country Reports, April 16, 2020",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2020/04/16/republic-of-kosovo-request-for-purchase-under-the-rapid-financing-instrument-press-release-49339",
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  "summary": "This paper discusses Republic of Kosovo’s Request for Purchase Under the Rapid Financing Instrument (RFI). The coronavirus disease 2019 (COVID-19) pandemic and the associated containment measures have severely weakened Kosovo’s economic outlook.",
  "sections": [
    {
      "heading": "Background and purpose",
      "content": "- Discusses Republic of Kosovo’s Request for Purchase Under the Rapid Financing Instrument (RFI).\n- Context: the coronavirus disease 2019 (COVID-19) pandemic and associated containment measures have severely weakened Kosovo’s economic outlook."
    },
    {
      "heading": "Economic outlook and projections",
      "content": "- The economy is expected to contract by 5 percent in 2020.\n- Drivers of the contraction cited:\n  - Decreases in tourism receipts.\n  - Decreases in remittances.\n  - Decreases in exports of goods.\n  - Decreases in foreign direct investments.\n- Causes of those decreases:\n  - Travel restrictions.\n  - The effect of COVID-19 in trading partners and remittance-originating countries.\n- Consequence: the deteriorated economic outlook is expected to result in external and fiscal financing gaps."
    },
    {
      "heading": "Financing needs and rationale for the RFI",
      "content": "- The RFI provides rapid and low-access financial assistance to member countries facing an urgent balance of payments need.\n- The RFI can be used without the need for a full-fledged economic program or reviews.\n- The RFI can provide support to meet a broad range of urgent needs, including those arising from:\n  - Commodity price shocks.\n  - Natural disasters.\n  - Conflict and post-conflict situations.\n- Financial assistance under the RFI is provided in the form of outright purchases.\n\n---\n\n Content in this bundle\n\n- EXECUTIVE SUMMARY — Republic of Kosovo\n  - EXECUTIVE SUMMARY — Republic of Kosovo (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - EXECUTIVE SUMMARY — Republic of Kosovo (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
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    "[Structured JSON version](/en/publications/cr/issues/2020/04/16/republic-of-kosovo-request-for-purchase-under-the-rapid-financing-instrument-press-release-49339/index.json)",
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    "Published: April 16, 2020",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513540993.002",
    "Discusses Republic of Kosovo’s Request for Purchase Under the Rapid Financing Instrument (RFI).",
    "Context: the coronavirus disease 2019 (COVID-19) pandemic and associated containment measures have severely weakened Kosovo’s economic outlook.",
    "The economy is expected to contract by 5 percent in 2020.",
    "Drivers of the contraction cited:",
    "Causes of those decreases:",
    "Consequence: the deteriorated economic outlook is expected to result in external and fiscal financing gaps.",
    "The RFI provides rapid and low-access financial assistance to member countries facing an urgent balance of payments need.",
    "The RFI can be used without the need for a full-fledged economic program or reviews.",
    "The RFI can provide support to meet a broad range of urgent needs, including those arising from:",
    "Financial assistance under the RFI is provided in the form of outright purchases.",
    "**EXECUTIVE SUMMARY — Republic of Kosovo**"
  ],
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      "title": "EXECUTIVE SUMMARY — Republic of Kosovo",
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