High-level delegation of the Central Bank of the Republic of Kosovo led by Governor Ismaili, successfully concludes the IMF-World Bank 2025 Annual Meetings in Washington D.C.

The high-level delegation of the Central Bank of the Republic of Kosovo (CBK), led by Governor Ahmet Ismaili, participated in the 2025 Annual Meetings of the International Monetary Fund (IMF) and the World Bank (WB), held in Washington D.C., United States of America.

During the meetings, which took place from October 13-18, Governor Ismaili and Deputy Governor Cakaj presented to the leadership of the IMF, WB, the U.S. Treasury, and representatives of partner central banks the main developments and priorities in Kosovo’s financial sector, results from the implementation of programs and professional technical assistance, as well as the need for further technical support.

Governor Ismaili took part as a speaker in the IMF high-level panel “Strengthening Financial System Resilience in Uncertain Times – Building Capacity in Emerging and Developing Countries”, where he outlined Kosovo’s key financial sector achievements and the IMF’s contribution through the Financial Sector Stability Review (FSSR) in building institutional capacity and reforming the supervisory and regulatory framework, resulting in a stable financial system that supports private sector growth, economic expansion, and financial stability.

His participation alongside senior IMF officials underscored CBK’s ongoing progress and tangible achievements, presented before a wide international audience in a session broadcast live by the IMF.

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Governor Ismaili also spoke at the high-level morning session “Reigniting Productivity in Europe and Central Asia” during the discussion “Promoting Technology Adoption and Digitalization,” where he highlighted Kosovo’s young population and dynamic ICT sector as key drivers of productivity growth.

From a financial sector perspective, he emphasized the importance of inclusive digital transformation through investment in digital skills and digital public services to ensure equal benefits for all population groups.

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During the Annual Meetings, Governor Ismaili participated in the signing ceremony of the Letter of Intent for instant payments Project – TIPS Clone, within the regional initiative for fast payment systems. The letter was signed between the Bank of Italy, the CBK, and the central banks of Albania, Montenegro, Bosnia and Herzegovina, and North Macedonia.

This project represents a key strategic and infrastructural milestone for the CBK, contributing to the implementation of its objectives and Strategic Plan.

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In separate bilateral meetings, the CBK delegation met with the delegation of the Swiss National Bank (SNB), led by Chairman of the Governing Board Mr. Martin Schlegel, discussing recent developments in Kosovo’s financial sector and reforms undertaken toward alignment with the EU legal framework. Governor Ismaili also presented progress on Kosovo’s SEPA membership process, modernization of the instant payments system, and other strategic priorities.

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The CBK delegation also met with Mr. David Amaglobeli, IMF Mission Chief for Kosovo, and Mr. Sebastian Sosa, IMF Regional Resident Representative for the Western Balkans. The discussions focused on recent economic developments, ongoing financial sector reforms, and the IMF’s technical assistance in various areas of the CBK’s mandate.

Governor Ismaili presented the latest developments in the economy and financial sector, with the safety of other banks, relying on closure mechanisms, macroprudential policy, the modernization of payment activities and other key reforms that are in progress.

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Governor Ismaili also met Ms. Mary Goodman, Deputy Director and Head of the Monetary and Capital Markets Department (MCM) Division at the IMF, with whom he discussed ongoing projects supported by the MCM’s technical assistance and the progress achieved in their implementation.

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In another meeting, Governor Ismaili and his team met with IMF Deputy Managing Director Mr. Bo Li. They discussed recent economic developments, financial stability, and structural reform progress. Mr. Li praised Kosovo’s achievements in maintaining financial stability and effectively implementing IMF program recommendations. 🔗 https://bqk-kos.org/news/guvernatori-ismaili-takon-zevendesdrejtorin-menaxhues-te-fmn-se-z-bo-li-vleresohet-lart-progresi-i-sektorit-financiar/?lang=en

Governor Ismaili also took part in the World Bank Constituency Meeting, where he presented Kosovo’s experience and achievements in implementing projects with the World Bank group and technical assistance provided in various areas, including digitalization and financial sector development.

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Accompanied by Deputy Governor Cakaj, Governor Ismaili met with Ms. Catriona Purfield, Director of the IMF Institute for Capacity Development (ICD), to discuss a new Technical Assistance (TA) project aimed at strengthening macroeconomic frameworks.

The CBK delegation briefed the IMF team on recent financial sector developments and ongoing reforms to enhance financial stability and policy effectiveness. Governor Ismaili emphasized the project’s importance for strengthening CBK’s analytical and decision-making capacities in support of long-term institutional resilience.

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Governor Ismaili was also warmly received at the U.S. Department of the Treasury’s Office of Technical Assistance by Acting Director Ms. Audrey Linthorst and her senior team.

The meeting reaffirmed the strong partnership between the CBK and the U.S. Treasury, including current joint projects and opportunities for expansion into new areas of cooperation.

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Governor Ismaili and Deputy Governor Cakaj also held separate meetings with the Executive Directors of the IMF and the World Bank Constituencies. In the meeting with Mr. Yigit Yasar, Governor Ismaili presented the latest developments in the economy and financial sector, including banking and insurance supervision, macroprudential policy, payment infrastructure, financial sector digitalization, and ongoing reforms. In the meeting with Ms. Nathalie Francken, both sides highlighted the ongoing cooperation in financial integration projects, including Kosovo’s SEPA accession and the development of the instant payment system – TIPS Clone.

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Alongside governors from 191 IMF member states, Governor Ismaili represented the Republic of Kosovo at the Plenary Meeting of the International Monetary and Financial Committee (IMFC). During this participation, he held bilateral discussions with central bank governors from around the world, exchanging views related to Kosovo’s financial stability mandate.

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During the fourth day in Washington D.C., Governor Ismaili met with World Bank Vice President for Europe and Central Asia, Ms. Antonella Bassani, and her team. He briefed her on reforms undertaken within the CBK’s Strategic Plan, key developments in Kosovo’s financial sector, overall economic performance, and ongoing projects supported by the World Bank Group.

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A notable highlight of the 2025 Annual Meetings was Governor Ismaili’s meeting with Mr. Alfred Kammer, Director of the IMF’s European Department. They discussed recent macroeconomic developments and financial sector performance in Kosovo, including progress in strengthening the regulatory and supervisory framework to enhance financial system resilience and integrity. Mr. Kammer commended the CBK’s progress in advancing financial stability and underlined the importance of IMF-Kosovo cooperation in supporting economic development and financial stability.

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Deputy Governor Milot Cakaj also held a meeting with Mr. Philip Brown, Chief Executive Officer of Clearstream and member of the Deutsche Börse Group based in Luxembourg. The discussion focused on potential cooperation between the CBK and Clearstream in international reserve management, including custody services and access to advanced financial market products such as securities lending and borrowing, to support Kosovo’s financial market development.

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At the invitation of Mr. Kammer, Governor Ismaili participated as a speaker in a closed-door forum attended by Governors and Ministers of Finance from 22 European countries, where the IMF’s “Regional Economic Outlook” report, as well as the main economic developments and reforms across Europe, were presented.

In his address, Governor Ismaili shared his assessments of the report’s findings, highlighting macroeconomic developments, financial stability, and prospects for sustainable growth in Europe, with particular focus on the Western Balkans region. He emphasized the successful coordination of fiscal and macroprudential policies in Kosovo, which has enabled sustainable growth, financial stability, and fiscal consolidation, where institutional commitment and the support of IMF programs and international partners have played a key role.

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The Annual Meetings of the IMF and the WB bring together central bankers, ministers of finance and development, parliamentarians, private sector leaders, civil society representatives, and academics to discuss global issues such as economic prospects, poverty reduction, and sustainable development.