Press Release No. 22/318

Statement of IMF Deputy Managing Director Li at the Conclusion of his visit to Kosovo

September 22, 2022

Pristina, Kosovo: Mr. Bo Li, Deputy Managing Director of the International Monetary Fund (IMF), issued the following statement in Pristina today at the conclusion of his visit to Kosovo:

“It has been a pleasure to visit Kosovo as Deputy Managing Director of the IMF. I would like to thank the authorities for their warm hospitality. This has been an opportunity for me to learn more about Kosovo’s economic and financial conditions, and also to reaffirm the IMF’s commitment to Kosovo and to deepen our friendship”.

“I leave Kosovo greatly encouraged by the frank and constructive meetings I have held, not just with the government and authorities but also with the country’s vibrant private sector and civil society, which provided me with invaluable insights into, among other things, the growing opportunities for young people and the increasing role of women in the economy.

“The economy of Kosovo has shown considerable resilience in the face of the shocks arising from the pandemic and the recent increases in commodity prices. The authorities have responded swiftly to these shocks, including through a very successful vaccination program that allowed diaspora travel to resume in full force already last year. That said, while the momentum from last year’s recovery is still strong, the energy price shock brought about by the war in Ukraine and the tighter global financial conditions will inevitably affect demand and economic activity in 2022.”

“In meetings with the authorities and private sector representatives, we discussed Kosovo’s near-term challenges, including the higher food and energy prices, tighter global financial conditions, and the weaker growth outlook for Europe and the world. We also discussed long-term challenges, such as strengthening the employment and business environments, and increasing the efficiency and effectiveness of the budget. In my meetings I have emphasized that maintaining sound macroeconomic policies and financial stability, strengthening education, health, and economic infrastructure, most notably on energy, as well as advancing the implementation of structural reforms will be essential to increase Kosovo’s growth potential, attract foreign direct investment, and reduce income gaps with the rest of Europe.”

“I look forward to continuing to strengthen our relationship with Kosovo and I am leaving with a store of fond memories of the country and its welcoming people.”