Governor Ismaili receives IMF Mission for Technical Assistance on Advancing the Crisis Management and Financial Stability Framework

The Governor of the Central Bank of the Republic of Kosova (CBK), Mr. Ahmet Ismaili, accompanied by his associates, received in an official meeting representatives of the International Monetary Fund (IMF) Technical Assistance Mission, led by Ms. Vasilika Kota, Senior Financial Sector Expert, and Ms. Minke Gort, Senior Expert in the Monetary and Capital Markets Department. The focus of the meeting was the advancement of the crisis management framework and the strengthening of financial stability.

On this occasion, Governor Ismaili expressed his appreciation for the continuous cooperation and technical support of the IMF, reiterating the CBK's commitment to advancing the crisis management framework, enhancing institutional preparedness, and strengthening capacities for intervention and inter-institutional coordination in support of financial stability. He emphasized that these activities are fully aligned with the CBK's medium-term institutional and regulatory priorities.

During the meeting, Governor Ismaili presented the progress achieved in establishing the bank recovery and resolution function, including the creation of dedicated internal governance structures and the strengthening of interdepartmental cooperation. It was highlighted that the new Law on Banks provides the necessary legal basis for this function, while secondary legislation and implementing regulations are under development and are expected to be adopted gradually in line with international standards.

The importance of effective inter-institutional coordination was also underlined, particularly with the Ministry of Finance and the Deposit Insurance Fund of Kosovo, through a dedicated structure intended to serve as a key platform for the coordination of instruments and efficient information exchange in situations of financial stress.

Governor Ismaili further emphasized the importance of adopting international best practices and operationalizing existing frameworks through the development of simulations, scenarios, and operational protocols, with the aim of transitioning from regulatory design to modern operational effectiveness.

On their part, IMF representatives expressed their readiness to continue providing technical support, with a particular focus on further advancing the regulatory framework, strengthening the bank recovery and resolution framework, and operationalizing inter-institutional coordination structures.

In this context, the importance of this project was confirmed in enhancing institutional preparedness and strengthening operational effectiveness in safeguarding financial stability, a project made possible by the IMF based on discussions and objectives of the CBK in line with its strategic plan.

In conclusion, Governor Ismaili reaffirmed his readiness for continued engagement with the IMF, thanking them for their partnership and technical expertise, and reiterating the commitment to further strengthen cooperation and advance reforms in the field of financial stability.