IMF unblocks help for Kosovo
05/03/2012 19:20
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The International Monetary Fund announced this Monday that there is a
plan that will continue the financial aid for Kosovo, after the fund
blocking created last year due to a problem created with Prishtina, when
the government increased that administrative wages unilaterally.
IMF declared that they have reached an agreement with the Kosovo authorities for a new 20-month program, which reaches 107 million EUR and has as objective the stabilization of the Kosovo budget and the reinforcement of its financial sector.
“The IMF board will review the new program by the end of April, when it is expected to give its confirmation”, says a press release distributed by the fund itself.
This movement comes almost one year after the Kosovo government increased the wages for the public sector unilaterally, by causing irritation for the IMF that suspended the 109 million EUR program set on July 2010, after only 22 million EUR had been granted.
On that time, IMF declared that Kosovo had deviated from the program engagements, increasing the wages of the public state employees with 50%.
“Since then, the implementation of the reforms that were encouraged by the IMF has been bigger, with a significant progress achieved in the respecting of the fiscal objectives”, the IMF declares.
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