Governor Ismaili welcomes IMF Mission for Article IV consultations

The Governor of the Central Bank of the Republic of Kosova (CBK), Mr. Ahmet Ismaili, together with Deputy Governors Mr. Cakaj and Mr. Fusha and senior CBK staff, welcomed the International Monetary Fund (IMF) Mission to Kosovo for the regular Article IV consultations. The Mission is led by Mr. David Amaglobeli, IMF Mission Chief for Kosovo, and includes Mr. Sebastian Sosa, IMF Regional Representative for the Western Balkans based in Vienna, accompanied by IMF staff from Washington DC.

At the opening meeting, Governor Ismaili expressed his appreciation for the IMF’s continued cooperation and its professional and technical assistance. He presented the latest macroeconomic developments in Kosovo and highlighted the overall stability of the financial sector. Governor Ismaili also informed the IMF Mission about ongoing reforms in the financial sector, including enhancements to the regulatory and supervisory frameworks in the areas of financial stability and macroeconomic modeling, financial supervision, market conduct supervision, cybersecurity, and artificial intelligence. These reforms are supported by IMF technical assistance, as well as by other international financial institutions and peer central banks.

Furthermore, Governor Ismaili highlighted developments in the banking sector, emphasizing the high levels of capitalization and liquidity, as well as positive developments in other financial sectors, which together underscore the stability of Kosovo’s financial system.

For his part, Mr. Amaglobeli commended the constructive cooperation between the CBK and the IMF and congratulated the CBK on the progress achieved in strengthening institutional and regulatory frameworks, as well as on the cooperation across various areas of technical assistance.

During the meeting, discussions focused on the implementation of recommendations from previous Article IV consultations. In addition, potential new arrangements with the IMF were discussed, with particular emphasis on further strengthening and reforming the financial system.

At the conclusion of the meeting, Governor Ismaili highly appreciated the IMF’s long-standing professional and technical support to the CBK, both in advancing the legal and regulatory framework and in strengthening institutional capacities. He reaffirmed the CBK’s commitment to continued cooperation with the IMF through projects and programs aimed at advancing institutional reforms and achieving the objectives set out in the CBK’s Strategic Plan.

The IMF Mission will stay in Kosovo from February 3 to 13, during which time it will hold thematic discussions with CBK staff, as well as with other institutions of the Republic of Kosovo, in line with Article IV of the IMF’s Articles of Agreement with its member countries.