KPST in an informative meeting with the heads of the CBK

The Governor of the Central Bank of the Republic of Kosovo (CBK), Fehmi Mehmeti, received in a meeting the representatives of the Kosovo Pension Savings Fund (KPST), respectively the Chairman of the Board, Ruzhdi Morina, and the Managing Director, Adrian Zalli.

The main topic of the meeting was the heads of CBK leaders about the current state of KPST investments in financial markets after the recent events in Ukraine.

Mr Morina announced that after 2021, when KPST investments had increased by about 11%, at the beginning of this year, as due to the negative effects of the pandemic on the supply chain, but especially since the war in Ukraine, KPST investments have had a decline, which is currently around 4%.

Given that the main indices in the financial markets have currently declined from 15% to 20%, the 4% decline in KPST investments can be considered quite restrained. This is mainly as a result of the protective measures that the Board of Directors has taken during January and February of this year.

Also, Mr Morina stated that this decline, although negative, in the short term does not harm the long-term goal of the KPST, as evidenced by all performance indicators of the KPST over three months, which are in positive territory.

Also, on this occasion, Mr Morina notified Governor Mehmeti of the second measure imposed by the Board of Directors, launching the Conservative portfolio for contributors aged 63.5 and older.

Under this measure, their assets will be calculated invested in the Treasury Bills of the Republic of Kosovo and no contributor 18 months or less close to retirement will be affected by the movements of the financial markets.

Mr Mehmeti, on the other hand, after thanking for the information, praised the efforts of the Board of Directors of KPST for the measures taken, which have reduced the risk and impact of these movements on contributors.

The Governor stressed the need for regular meetings between the two institutions, in order to continuously monitor the situation and to ensure the appropriate institutional response in the service of protecting the interests of contributors.