Governor Ismaili Participates in the XI Regional Forum of Finance Ministers, Central Bank Governors, and Tax Administration Directors

The Governor of the Central Bank of the Republic of Kosovo (CBK), Mr. Ahmet Ismaili, participated in the Governors’ Panel titled “Maintaining the Stability of Prices and the Banking System During Uncertain Times.” This event is being held as part of the XI Regional Forum of Finance Ministers, Central Bank Governors, and Tax Administration Directors titled “Financial and Monetary Stability of the Region in Conditions of Weak Economic Growth in the Eurozone,” organized in Bečići, Montenegro.

Governor Ismaili presented an overview of the current state of the country’s financial system, including key macroeconomic and financial indicators that demonstrate financial stability across all relevant parameters.

He also discussed the impact of inflation and its declining trend, the levels and causes of inflation both in Kosovo and the region, CBK’s projections for inflation in the coming years, and CBK’s instruments to combat it in case of potential crises. It was noted that inflation has a downward trend, reaching 2.1% in the first quarter of 2024.

Governor Ismaili emphasized the importance of the stability of the financial system, focusing on the banking sector, where banking regulation according to best international practices, adequate capitalization of the banking sector, prudent supervisory approaches, and lending practices by banks enable support for economic activity even during uncertain economic periods.

He also highlighted the importance of cooperation and coordination between monetary and fiscal policies, aiming to achieve macro-financial stability and sustainability of the country, especially during periods of uncertainty or crises. This was also one of the topics addressed by all panelists.

At this forum, Governor Ismaili presented some of the activities that the CBK is undertaking in implementing its strategic plan, with an emphasis on the digitalization of financial services, creating opportunities for fast payments, aiming for membership in SEPA, cooperation in increasing cross-border transactions with regional and EU countries, financial inclusion, and consumer protection.

In conclusion, Governor Ismaili stressed that the CBK remains committed to cooperating regionally and internationally, especially with regulators from regional countries and other regional institutions of common interest, with the aim of coordinating and creating a more sustainable platform to successfully face challenges and risks in achieving objectives during challenging times.