IMF approves EUR 4.9mn loan tranche to Kosovo

By bne IntelliNews July 17, 2013

The IMF said its executive board has approved another tranche worth EUR 4.9mn to Kosovo after completing the fourth review of its 2012 stand-by arrangement with the country. Thus, the total resources already available to Kosovo under its EUR 105mn deal reached EUR 99.9mn, the Fund said in a statement on July 15.

The government, however, does not intend to withdraw these funds at this point and will rather treat them as precautionary in 2013.

Kosovo has previously indicated it will also not urge to use the tranche the IMF approved after its third review back in April. As a result, total disbursements so far amount to EUR 90.1mn - unchanged since the end of 2012 (when the IMF completed its second review under its SBA with Kosovo).

"The [Kosovo] authorities have restored a sustainable fiscal stance in the past two years. A rules-based fiscal framework will anchor fiscal policy from 2014. The framework needs to be complemented by sound fiscal practices, especially the careful preparation and costing of spending initiatives," deputy managing director and acting chair Ms. Nemat Shafik said after the IMF's executive board meeting.

The IMF approved the 20-month deal with Kosovo in April 2012. The programme's key goal is to support the government's fiscal policy and restore fiscal sustainability.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

EIF signs guarantee agreements with 11 banks in Western Balkans, unlocking €750mn for small businesses

The European Investment Fund (EIF), part of the EIB Group, said on April 15 that it has signed guarantee agreements with 11 banks and financial intermediaries in the Western Balkans. These ... more

EIB surpasses investment milestone in the Western Balkans by investing €1.2bn in 2023

EIB Global, the financial arm of the European Investment Bank (EIB) for activities beyond the EU, set a new record by investing €1.2bn in the Western Balkans in 2023, the EIB said on February 9. ... ... more

bne IntelliNews Southeast Europe Outlook 2024

This Southeast Europe Outlook 2024 has been prepared by bne IntelliNews as part of a series of annual reviews providing updates on the geopolitical, macroeconomic and commercial state of ... more

Follow Us On

Most Read

  1. The models are wrong, climate change is accelerating faster than predicted
    4 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Don't mention the "D" word - Ukraine
    9 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    6 days ago
  5. COLLINGWOOD: Ukraine’s power blackout means a dark future
    7 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    29 days ago
  2. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  3. BRICS announce a blockchain-based payment system to create a common currency
    1 month ago
  4. Saudi Arabia to scale back plans for Neom city
    19 days ago
  5. Iran vs Israel: Who is better equipped for war?
    15 days ago

Reports

Dismiss