Governor Ismaili participates in IMF high-level panel on strengthening financial system resilience in emerging and developing countries

The Governor of the Central Bank of the Republic of Kosovo (CBK), Mr. Ahmet Ismaili, participated as a panelist in the high-level session “Strengthening Financial System Resilience in Uncertain Times – Building Capacity in Emerging and Developing Countries”, held during the 2025 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WB).

The panel, moderated by Ms. Catriona Purfield, Director of the IMF Institute for Capacity Development, featured distinguished speakers from the IMF, including Mr. Dan Katz, IMF First Deputy Managing Director; Mr. Tobias Adrian, IMF Financial Counsellor and Director of the Monetary and Capital Markets Department; as well as contributions from Mr. Bert Kroese, IMF Chief Statistician, Data Officer, and Director of the Statistics Department.

In his remarks, Governor Ismaili presented the key achievements of Kosovo’s financial system and shared the country’s experience with the IMF’s Financial Sector Stability Review (FSSR). He emphasized how the FSSR has played a vital role in strengthening institutional governance, building supervisory and analytical capacities, and advancing the regulatory framework, resulting in a stable financial system that supports private sector development, economic growth, and overall financial stability. He noted that the FSSR provided a comprehensive, evidence-based diagnostic framework that guided the Central Bank in implementing nearly all recommendations across key functional areas.

Highlighting major achievements and reforms, Governor Ismaili referred to the transition to a fully risk-based supervisory approach, the establishment of a systemic risk monitoring framework, the advancement of macroprudential policy and financial stability analysis, the modernization of financial statistics in line with international standards, and progress in financial inclusion and consumer protection through digital innovation.

He underscored that the successful implementation of these reforms has contributed to broader national milestones, including the expansion of the financial sector, Kosovo’s removal from the World Bank–IMF fragility list, and the country’s first sovereign credit rating assigned by Fitch Ratings.

Governor Ismaili stressed that this transformative journey, marked by strong leadership commitment, active staff engagement, and reinforced by IMF programs and pragmatic technical assistance, has yielded sustainable and long-lasting results.

He further emphasized the importance of building analytical capacity for forward-looking risk assessments, including new risks from FinTechs and nonbanks. Such efforts, he noted, are essential for strengthening resilience in small and open economies, where investing in people, data, and systems, including artificial intelligence, will be key to safeguarding financial stability.

Concluding his intervention, Governor Ismaili expressed his gratitude to the IMF leadership, its Monetary and Capital Markets European Department and Statistics, all donors and partners for their continued contribution to Kosovo’s enduring reforms.

The Governor’s participation in today’s panel demonstrates the Central Bank of Republic of Kosovo’s ongoing progress and tangible achievements. Presenting before a broad international audience, in a session broadcast live by the IMF, marks an important step in promoting the resilience and credibility of Kosovo’s financial sector.