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Tuesday, December 12, 2017, 

Kosovo loses out on IMF funding after government formation deadlock

Kosovo loses out on IMF funding after government formation deadlock

Kosovo, 13 August 2017 (MIA) - The International Monetary Fund (IMF) will shelve a final review of its stand-by arrangement (SBA) with Kosovo, as well as the final disbursement of around EUR 15 million because of the absence of a new regular government.

In July 2015 the IMF and Kosovo signed a 22-month SBA that resulted in maintaining fiscal discipline. In March, the SBA was extended by several months to August.

Kosovo held early general elections on June 11, but their result was inconclusive with none of the three big players winning enough votes to form a government alone.

“The final review of the SBA will not be completed, as the fourth review mission could not take place in June as scheduled. This because it is standard IMF practice not to conduct review missions around elections to preserve the Fund’s longstanding political impartiality,” says Ruud Vermeulen, the IMF resident representative in Kosovo.

The mission could not take place after the elections because there is not as yet a new government in place, with the programme expiring on August 4. ik/10:23

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