High-level delegation of the Central Bank of the Republic of Kosova led by Governor Ismaili successfully concludes the 2026 IMF-WB Spring Meetings in Washington DC

A high-level delegation of the Central Bank of the Republic of Kosova (CBK), led by Governor Mr. Ahmet Ismaili, Non-Executive Board Member Ms. Nora Latifi-Jashari, Deputy Governor Mr. Dardan Fusha, along with their associates, participated in the 2026 Spring Meetings of the International Monetary Fund (IMF) and the World Bank (WB), held in Washington DC, United States of America.

During the meetings, held from April 13 to 18, Governor Ismaili and his delegation presented to senior officials of the IMF, World Bank, International Finance Corporation (IFC), the U.S. Treasury, as well as representatives of partner central banks, the key developments and priorities in Kosovo’s financial sector, the results of implemented programs and technical assistance, and the need for further professional support.

In a meeting with IMF Deputy Managing Director Mr. Bo Li, Governor Ismaili presented the latest developments in Kosovo’s economy, including the performance of the financial sector, progress in maintaining financial stability, and advancement of structural reforms. He also outlined financial and monetary developments, with a particular focus on key indicators demonstrating the resilience of the financial system.

Mr. Li commended the progress achieved by the CBK, emphasizing the importance of continuing reforms and close inter-institutional cooperation, with the potential for expansion through new programs.

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During the meeting with Mr. Alfred Kammer, Director of the European Department at the IMF, Governor Ismaili informed him about the latest developments and performance of the financial sector, financial stability, and progress in structural reforms. He emphasized that the country’s economy has continued to demonstrate resilience despite external challenges, supported by a well-capitalized banking sector with sufficient liquidity and low levels of non-performing loans.

Mr. Kammer praised the CBK’s achievements in maintaining financial stability and highlighted the importance of deepening cooperation between the IMF and Kosovo, particularly in areas supporting economic development and strengthening the functioning of the financial system.

At the conclusion of the meeting, in recognition of Mr. Kammer’s upcoming retirement, Governor Ismaili presented him with a symbolic gift to express appreciation for his contribution and cooperation in achieving shared objectives between the CBK and the IMF.

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In the meeting with Mr. Yigit Yasar, Executive Director of the IMF Constituency, discussions focused on the latest developments in Kosovo’s financial sector. Governor Ismaili highlighted the resilience of the financial system, progress in payment infrastructure, digitalization of the financial sector, and reforms in anti-money laundering and counter-terrorism financing. Efforts to enhance financial inclusion and strengthen institutional governance were also discussed, with particular attention to emerging risks, including cybersecurity threats.

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In a joint meeting with Minister Murati and Ms. Nathalie Francken, Executive Director at the World Bank, discussions covered developments in the financial sector, with particular emphasis on advancing financial inclusion and improving access to finance for citizens and businesses through payment system modernization projects. Governor Ismaili presented CBK initiatives in this area, including financial education, digitalization of services, and increased transparency in the financial market.

The strong cooperation within financial sector projects was highly appreciated, including Kosovo’s integration into SEPA and the development of the TIPS Clone fast payment system. The signing of international agreements with the World Bank in the financial sector was also welcomed.

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Governor Ismaili was welcomed at the World Bank headquarters by Vice President and Treasurer of the World Bank Group, Mr. Jorge Familiar. He emphasized the importance of cooperation through programs such as the Reserve Advisory and Management Partnership (RAMP), highlighting tangible benefits in advancing investment practices and risk management.

In this regard, the CBK has advanced its cooperation with the World Bank Treasury program (RAMP), moving into the active portfolio management phase and signing a new Cooperation Agreement. The program includes around 100 member institutions globally, mainly central banks, with over $30 billion in assets under management. Starting this year, part of these assets will include funds managed by the CBK.

Mr. Familiar praised the CBK’s progress and reaffirmed the World Bank’s support for initiatives aimed at further developing the financial sector.

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In a meeting with World Bank Vice President for Europe and Central Asia, Ms. Antonella Bassani, Governor Ismaili provided updates on Kosovo’s financial sector, focusing on payment system modernization and regional integration in the Western Balkans. He emphasized CBK’s commitment to advancing payment infrastructure and accelerating integration into SEPA, describing it as a strategic priority for economic development.

Ms. Bassani reaffirmed the World Bank’s readiness to support CBK and ongoing reforms, commending the achievements so far.

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In a joint IMF-format meeting with Minister Murati, Governor Ismaili informed IMF Mission Chief for Kosovo, Mr. David Amaglobeli, about recent macroeconomic and financial developments, with emphasis on key indicators demonstrating the stability and resilience of the financial system. Progress under the 2026 Article IV Consultation Staff Report was also discussed.

Mr. Amaglobeli praised the constructive partnership between the CBK and the IMF and highlighted progress in strengthening institutional capacities, emphasizing the importance of continued technical assistance.

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As part of the Spring Meetings, Governor Ismaili held a bilateral meeting with senior officials of the Banque de France, where a new agreement was signed with Mr. Ivan Odonnat, Director General for Operations and Financial Stability. The agreement expands cooperation in asset and international reserve management, including new asset categories.

Governor Ismaili emphasized the strategic importance of the agreement, describing it as a key step in modernizing the reserve management framework in line with global developments.

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Accompanied by his delegation, Governor Ismaili was welcomed at the U.S. Treasury’s Office of Technical Assistance by Mr. Ed Roche and Ms. Rachel Irmen, along with their teams. The meeting reaffirmed the strong partnership between the CBK and the U.S. Treasury, both in ongoing projects and potential expansion into strategic areas such as anti-money laundering, counter-terrorism financing, and capital market development.

U.S. Treasury officials confirmed their readiness to expand cooperation through new technical assistance programs.

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Governor Ismaili informed IFC Vice President Mr. Alfonso García Mora about developments in Kosovo’s financial sector, emphasizing legal and regulatory advancements aimed at strengthening sector resilience, expanding financial services, improving access to finance, and enhancing financial inclusion and consumer protection.

Discussions also covered ongoing IFC-supported projects, including the Financial Services Digitalization Project, progress achieved, and future cooperation opportunities.

Mr. García Mora praised the reforms and expressed readiness to further expand cooperation.

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The CBK delegation met with the IMF’s Monetary and Capital Markets (MCM) Department, led by Ms. Mary Goodman, discussing progress on recommendations from previous IMF missions, including the Financial Sector Stability Review (FSSR) and Safeguards Assessment, as well as implementation of technical assistance.

Focus areas included support for the Supervisory Review and Evaluation Process (SREP), transparency code implementation, crisis management models, and strengthening IT supervision and cybersecurity risk management.

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Governor Ismaili representing Kosovo on the IMF Board of Governors, participated in the IMF Constituency meeting alongside Austria, Czech Republic, Hungary, Slovakia, Slovenia, and Türkiye.

Discussions covered economic and financial developments, financial stability, external shocks, inflationary pressures, and emerging risks for banking sectors and participating economies.

Governor Ismaili expressed appreciation for cooperation and support, while confirming backing for the nomination of a new constituency leader.

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Governor Ismaili and Deputy Governor Fusha participated in a roundtable on “Implementing the Target Instant Payments Settlement (TIPS) Clone Platform”, organized by the World Bank Group, with participation from Western Balkan central banks, the Bank of Italy, and World Bank representatives.

The discussion focused on progress toward launching the platform and readiness of national systems to connect to fast payment infrastructure.

Governor Ismaili emphasized the CBK’s commitment to modernizing the payment infrastructure, describing TIPS Clone as a strategic step toward increasing the efficiency, speed, and security of payments, as well as toward strengthening regional integration and the gradual alignment with European payment standards, including the process of integration into SEPA.

While Deputy Governor Fusha underlined the importance of close cooperation among central banks, Banca d’Italia, and the World Bank Group, stressing that technical and institutional support is essential to ensuring a successful and sustainable implementation of the instant payments system at both the national and regional levels.

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Deputy Governor Fusha met with Mr. Christian Rössler of Clearstream, discussing developments following CBK’s membership, operational aspects of securities settlement, and opportunities to enhance liquidity access and collateral management.

Discussions also covered advanced financial instruments and potential expansion of the Central Securities Depository infrastructure.

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Governor Ismaili represented Kosovo at the plenary meeting of the International Monetary and Financial Committee (IMFC), alongside governors from 191 IMF member countries.

Governor Ismaili’s participation in this session, accompanied by Deputy Governor Mr. Fusha, provided an important opportunity for engagement with global policymakers and representatives of international financial institutions on issues of common interest, including global economic outlooks and initiatives to strengthen the resilience of the financial sector.

The session provided an opportunity to engage with global policymakers on economic outlooks and financial sector resilience.

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Governor Ismaili and the Minister of Finance participated in a high-level IMF meeting on the establishment of the Southeast Europe Technical Assistance Center (SEETAC), to be hosted in Rome.

During the meeting, the International Monetary Fund informed participants about the decision to establish this regional center and the selection of Rome as the host city, emphasizing the importance of creating a permanent platform for institutional capacity development and strengthening policymaking in the countries of the region. It was noted that SEETAC will contribute to enhancing macroeconomic stability, institutional resilience, and progress toward European integration.

Governor Ismaili emphasized the importance of coordinated technical assistance and regional cooperation for strengthening financial stability and advancing structural reforms, highlighting the commitment of Kosovo’s institutions to initiatives that support the fulfillment of European standards and sustainable development.

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Concluding the Spring Meetings, Governor Ismaili joined governors and finance ministers at the Regional Economic Outlook (REO) meeting, which served as a platform to discuss key economic developments, global uncertainties, inflationary pressures, and policy responses.

The presentations highlighted the challenges facing the region amid heightened global uncertainty and ongoing conflicts, including the effects of external shocks, persistent inflationary pressures, and the risk of spillovers to other sectors. In this context, discussions also addressed the policy measures required to mitigate these risks, particularly from the perspective of monetary and fiscal policy.

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The IMF–World Bank Spring Meetings bring together central bank governors, finance ministers, private sector leaders, civil society representatives, and academics to address global economic issues, including growth, poverty reduction, and financial stability.