The IMF mission appreciates the achievements of CBK: The Central Bank of the Republic of Kosovo has continued to advance an ambitious institutional reform agenda, in line with the 5-year Strategic Plan

05/04/2024

The International Monetary Fund (IMF) mission, led by Mr Sebastian Sosa, has visited the Republic of Kosovo during the period 18-24 March 2024 to hold discussions on the second review of the Stand-By Arrangement (SBA) and the Resilience and Sustainability Facility (RSF) Arrangement that our country has with the IMF.

The IMF team stated, in the End-of-Mission press release issued by them, that the Central Bank of the Republic of Kosovo (CBK) has continued to advance an ambitious institutional reform agenda, in line with the 5-year Strategic Plan, has made the on-going efforts to strengthen governance, risk management, financial supervision and address gaps in fight to prevent money laundering and terrorist financing, considering them welcome and as activities that should continue.

The IMF team has concluded that the banking system remains sound, liquid and well-capitalized, emphasizing the existence of the Emergency Liquidity Assistance as well as the REPO line (100 million euros) with the European Central Bank (ECB), recently extended through January 2025.

In addition, the IMF Mission Team has recognized the achievement of the targets that the CBK has agreed within the program, including the adoption of the Rules of Procedure clarifying the roles and responsibilities of the CBK Executive and Supervisory Boards, as well as the drafting of the new banking sector law, which will soon be submitted to the Assembly.

The IMF press release states that Program implementation remains on track, with all end-December 2023 quantitative targets met and good progress in the agreed structural reform agenda.

The CBK remains committed to fulfilling all the measures foreseen in the Program with the IMF within the reform activities, in line with its objectives.

You can find the full text of the IMF statement in the following link:

IMF Reaches Staff-Level Agreement with Kosovo on the Second Reviews of the Stand-By Agreement and the Resilience and Sustainability Facility Agreement