Regional Economic Outlook
October 24, 2024
Europe’s economy is recovering, benefiting from a strong crises’ response. Yet, the recovery is falling short of its full potential. Uncertainty about persistent core inflation, policy directions, and geopolitical conflicts, is dampening the near-term outlook. In the longer term, perennially weak productivity growth—a result of limited scale and business dynamism–-amid new headwinds from fragmentation and climate change are holding back growth potential.
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News and Highlights
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Republic of Kosovo: Selected Issues
December 23, 2024
Series:Country Report No. 2024/365
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December 23, 2024
Series:Country Report No. 2024/364
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December 23, 2024
The IMF Executive Board concluded the 2024 Article IV Consultation and the Third Reviews under the Stand-By (SBA) and the Resilience and Sustainability Facility (RSF) arrangements with Kosovo. This provides Kosovo access to an additional SDR 13.35 million (€16.7 million) under the SBA and SDR 15.5 million (€19.3 million) under the RSF.
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December 20, 2024
Series:Country Report No. 2024/366
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December 20, 2024
The IMF Board today completed the Sixth Review of the Extended Arrangement under the Extended Fund Facility (EFF) for Ukraine, enabling a disbursement of about US$1.1 billion (SDR 834.9 million) to Ukraine, which will be channeled for budget support.
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December 19, 2024
Series:Country Report No. 2024/355
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December 17, 2024
The IMF Executive Board completed on December 17, 2024, the sixth review under the Extended Credit Facility/Extended Fund Facility (ECF/EFF), and the second review under Resilience and Sustainability Facility (RSF) with Moldova, allowing for a disbursement totaling SDR 122.2 million (about $162.6 million).
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December 12, 2024
Series:Country Report No. 2024/337
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December 9, 2024
The Executive Board of the International Monetary Fund (IMF) approved a 36-month Policy Coordination Instrument (PCI) with the Republic of Serbia, following the conclusion of the fourth and final review under the SDR 1.89 billion (approximately EUR 2.4 billion) Stand-By Arrangement (SBA) approved by the IMF’s Board on December 19, 2022. While completion of the SBA review authorized additional access to SDR 316.47 million (about EUR 400 million), the authorities continued to treat the SBA as precautionary and did not make the available purchases. They cancelled the SBA following the completion of its final review, ahead of its expiration on December 18, 2024, to facilitate the transition to the PCI.
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Albania: Staff Concluding Statement of the 2024 Article IV Mission
November 26, 2024
Washington, DC. An International Monetary Fund (IMF) mission, led by Anke Weber, and comprising David Bartolini, Fazurin Jamaludin, Jakree Koosakul and Hasan Toprak, conducted discussions for the 2024 Article IV Consultation with Albania during November 13-21. At the end of the visit, the mission issued the following statement:
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Czech Republic: Staff Concluding Statement of the 2024 Article IV Mission
November 26, 2024
The Czech economy is slowly regaining ground after an unprecedented combination of shocks. These developments unfold as the country transitions from heavily manufacturing-based, export-oriented growth to a more mature and diversified economy.
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November 21, 2024
IMF staff and the Moldovan authorities have reached staff-level agreement on policies for completion of the sixth reviews under the Extended Credit Facility and Extended Fund Facility (ECF/EFF) arrangements and for the second review under the Resilience and Sustainability Facility (RSF) arrangement.
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Transcript of IMF Press Briefing
November 21, 2024
MS. KOZACK: Good morning, everyone. It's great to see you all here in person and online. Welcome to this IMF press briefing. My name is Julie Kozack. I'm the Director of Communications at the IMF.
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November 19, 2024
IMF and Ukrainian Authorities Reach Staff Level Agreement on the Sixth Review of the Extended Fund Facility (EFF) Arrangement
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November 11, 2024
An International Monetary Fund (IMF) mission, led by Mr. David Amaglobeli, visited Pristina during October 28 – November 11, 2024, to hold discussions on the 2024 Article IV Consultations and the Third Reviews of Kosovo’s Stand-By Arrangement (SBA) and Resilience and Sustainability Facility (RSF) Arrangement.
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October 28, 2024
Today, Mr. Geoff Gottlieb, IMF Senior Regional Representative for Central, Eastern and Southeastern Europe, made the following statement: “An IMF mission headed by Mr. Jan Kees Martijn will visit Bucharest November 5 - 8, 2024, to hold a regular staff visit. The Fund’s team will review recent economic and financial developments and update the macroeconomic outlook.”
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Transcript of European Economic Outlook October 2024 Press Briefing
October 24, 2024
Access the transcript of the IMF’s Regional Economic Outlook on Europe press briefing, led by Alfred Kammer, Director of the European Department. The briefing addresses Europe’s inflation trends, growth outlook, and policy recommendations, highlighting the impacts of Russia’s war in Ukraine, the EU’s fiscal framework, and reforms to enhance productivity and integration in the Single Market.
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Transcript of Fiscal Monitor October 2024 Press Briefing
October 23, 2024
Good morning, good afternoon, and good evening to our viewers around the world. I am Tatiana Mossot, the IMF Communications Department, and I will be your host for today’s press briefing on the Annual Meetings 2024 Fiscal Monitor, “Putting a Lead on Public Debt.” I am pleased to introduce this morning the Director of the Fiscal Affairs Department, Vitor Gaspar. He is joined by Era Dabla Norris, Deputy Director of the Fiscal Affairs Department, and Davide Furceri, who is the Division Chief of the Fiscal Affairs Department. Good morning, Vitor, Era, Davide.
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October 18, 2024
Series:Country Report No. 2024/314
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IMF Executive Board Completes the Fifth Review of the Extended Fund Facility Arrangement for Ukraine
October 18, 2024
The IMF Board today completed the Fifth Review of the extended arrangement under the Extended Fund Facility (EFF) for Ukraine, enabling a disbursement of about US$1.1 billion (SDR 834.9 million) to Ukraine, which will be channeled for budget support.
About Us
The IMF Regional Office in Warsaw was established in February 2005, succeeding the Resident Representative office for Poland. Its primary task is to enhance the IMF's ability to carry out surveillance in Central and Eastern Europe, including with regard to financial stability, economic convergence and integration, and the jobs and growth agenda.
To this end, the Regional Office:
- complements the work of headquarter-based mission teams by focusing on post-crisis issues across the region;
- cooperates with regional partners within the Vienna 2 Initiative framework for safeguarding financial stability in the region;
- monitors and analyzes economic developments from a regional perspective, identifies policy issues, and informs the IMF's staff at headquarters;
- maintains contacts with governments, civil society and other relevant institutions (such as the European Commission and the ECB);
- provides information to the media and other interested groups about the IMF's economic analysis and policy advice in the region.