Following the virtual meetings of the 2020 Spring Meetings with the International Monetary Fund, in order to discuss the current situation caused by the COVID-19 pandemic, Governor Mehmeti and the acting Minister of Finance and Transfers Mr. Bislimi met at a virtual conference with the Director of the Department for Europe of the International Monetary Fund Mr. Poul M. Thomsen.
The International Monetary Fund (IMF) has provided significant support through the Instrument for Rapid Financing, in the amount of 52 million euros for Kosovo. By closely monitoring the developments in Kosovo, the IMF will continue to provide support to respond to the challenges that will face Kosovo's economy.
During the meeting, Mr. Thomsen was informed about the latest economic developments in Kosovo and was informed in more detail about the economic measures already taken and those planned by the Ministry of Transfers and Finance, as well as the measures taken by the Central Bank of the Republic of Kosovo. regarding the mitigation of the crisis caused by COVID-19.
Consequently, the measures taken by the Government of the Republic of Kosovo and the Central Bank have been assessed as appropriate and measures which could contribute to dealing with the shocks caused by COVID-19.
During this meeting it was emphasized that the situation caused by COVID-19 this year will result in the decline of all economies globally. However, the decline of the economy in Kosovo and developing economies will generally be lower than expected in developed economies.
Kosovo's economy has grown steadily over the years and the health of the financial sector is sound.
The challenges ahead, after overcoming the pandemic and the opportunities for economic recovery, also had a special focus on the discussion.
Consequently, Mr. Thomsen expressed readiness for the IMF to assist Kosovo with additional funding if necessary at later stages.
Governor Mehmeti and acting Minister Bislimi thanked Mr. Thomsen for the proactive approach and support and and ensured mutual cooperation in relation to addressing the challenges that Kosovo is facing in this time of pandemics.