CBK participates in the IMF and World Bank Group Constituency meeting in Prague

The Deputy Governor of the Central Bank of the Republic of Kosova (CBK), Mr. Dardan Fusha, participated in the latest meeting of the International Monetary Fund (IMF) and World Bank Group Constituency, held at deputy levels in Prague, Czech Republic. The meeting brought together representatives of central banks and ministries of finance from the member countries of the Constituency, including Austria, Belgium, the Czech Republic, Hungary, Kosovo, Luxembourg, Slovakia, Slovenia, and Türkiye.

The meeting took place at a time of significant changes in the global economy, following a series of consecutive challenges, including the COVID-19 pandemic, geopolitical conflicts, continued uncertainty in international markets, energy security concerns and the transition towards renewable energy sources, as well as disruptions and transformations in global supply chains.

Discussions focused on current global economic and financial developments, the macroeconomic outlook, strengthening economic resilience, and the role of international financial institutions in supporting reforms and addressing emerging challenges.

During the meeting, participants highlighted the importance of strong institutions, good governance, and prudent economic policies as key factors for preserving macroeconomic stability and creating the conditions for sustainable development.

In this context, experiences of member countries with the programs and assessments provided by the IMF and the World Bank Group were also discussed, including the Financial Sector Assessment Programs (FSAP), which, together with targeted technical assistance, contribute to strengthening financial stability frameworks, financial supervision, crisis management arrangements, and institutional preparedness to address emerging risks.

Participants emphasized the importance of continuously adapting policies and institutional frameworks to new developments, including economic digitalization, financial innovation, risks arising from new technologies, as well as the impact of the green transition and climate-related developments on financial stability.

Within the framework of the discussions, Kosovo’s progress in implementing its IMF-supported program was positively assessed, including the Stand-By Arrangement (SBA) and the Resilience and Sustainability Facility (RSF). The RSF, as the first instrument of its kind approved by the IMF in Europe, has supported Kosovo’s long-term reforms aimed at strengthening economic resilience, advancing the energy transition, and improving institutional frameworks to address future challenges. The successful implementation of these programs has contributed to strengthening the confidence of international partners and supporting structural reforms.

Furthermore, discussions highlighted the importance of investments in critical infrastructure, regional connectivity, and economic integration, with particular emphasis on the role of good governance, the rule of law, digital transformation, and alignment with European infrastructure as important factors for enhancing productivity and supporting long-term development.

The meeting concluded with a reaffirmation of the importance of continued cooperation among Constituency member countries and international financial institutions, with the aim of exchanging experiences, coordinating policies, and building a more sustainable future by strengthening institutional readiness to address growing uncertainties and emerging risks, including those related to geopolitical developments, cybersecurity, and the potential impact of advanced technologies such as artificial intelligence and quantum computing.