CBK hosts IMF Technical Assistance Mission to strengthen macroeconomic modeling and forecasting

The Deputy Governor of the Central Bank of the Republic of Kosovo (CBK) for Financial Supervision, Mr. Milot Cakaj, accompanied by the CBK team, hosted an introductory mission by a Technical Assistance (TA) team from the International Monetary Fund (IMF), led by Mr. Yunhui Zhao from the IMF’s Institute for Capacity Development (ICD).

This Mission represents an important step toward strengthening CBK’s macroeconomic modeling, forecasting, and scenario analysis capabilities in line with international best practices. The TA project follows discussions held earlier this year during the IMF Spring Meetings in Washington, D.C. between CBK Governor Mr. Ahmet Ismaili and ICD senior management, as well as on CBK’s formal request for this support.

Deputy Governor Cakaj briefed the IMF team on recent developments in Kosovo’s financial sector and the reforms undertaken by CBK to enhance financial stability and policy effectiveness. He outlined CBK’s expectations for this TA engagement, emphasizing its importance for strengthening the institution’s analytical and decision-making capacity. He also highlighted that the assistance would be tailored to CBK’s specific needs, helping build sustainable internal capacity and further advance the quality of the macroeconomic policy framework in line with the CBK’s Strategic Plan.

Mr. Zhao presented the ultimate objectives of the multi-year TA project. The primary objective is to build a robust analytical infrastructure that strengthens the CBK’s capacity for macroeconomic forecasting and policy analysis. This enhanced capacity will then be applied to advance the CBK’s core analytical mandate, including through scenario development for policy discussions and macro-financial stress testing.

Both CBK and IMF reaffirmed their commitment to continued cooperation and expressed their shared objective of ensuring the successful implementation of this TA initiative.

CBK appreciates the IMF’s support and recognizes the significant value of all TA projects in strengthening the institution’s analytical and policy capabilities.