President Thaçi: Central Bank of Kosovo, a great role in economic integration with developed countries

Prishtina, November 19th 2019 – President of the Republic of Kosovo Hashim Thaçi, participated today at the 20th anniversary of the establishment of the Central Bank of Kosovo.

President Thaçi said that 20 years ago the foundations of the Central Bank of Kosovo were laid, even though then it had a different name and a more modest mission.

“At a glance, it was a small step, but in reality it was a great one, because then were laid the foundations of a proper banking system. On this occasion, I would like to thank all the founders and our international partners, in particular the International Monetary Fund for the technical assistance it provided,” said the President.

President Thaçi pointed out that with the declaration of the independence of Kosovo and with the approval of the respective legal packs, a new period had commenced for the CBK and for the economic development of the Republic of Kosovo.

“Since then, CBK has marked great successes, which resulted with continuous economic growth, with financial stability with the modern payment system, with financial regulations and with increase of advanced supervisory capacities,” said President Thaçi.

At the marking of this anniversary, President Thaçi also said that central Bank of Kosovo had a great role in economic integration with the developed countries, particularly those of European Union.

“I can say with pride and in full conviction that on this journey, CBK serves as a model for the whole region. Owing to its professionalism and integrity, it is the citizens of Kosovo who are the beneficiaries, from easier access to financing to economic stability we enjoy,” said the President.

The head of state also said that from the mechanisms that were built, diaspora has also benefited, as the financial system has enabled the diaspora to have a closer relations with Kosovo’s economy.

He congratulated Governor Mehmeti, the whole BCK staff, previous governors and all those who have contributed and contribute today.

“I also thank the international partners, US Treasury, USAID, International Monetary Fund, the World Bank, European Central Bank, GIZ and many other institutions for the continuous support given to this institution.”

President Thaçi added that such anniversaries must also project the challenges awaiting CBK and Kosovo’s financial institutions.

One of the challenges, according to the President, is the further integration of our financial system in the systems of developed countries and fulfilment of all criteria required so that Kosovo’s Financial System become a member of the European Union.

“Another challenge is also the preservation of financial stability which we have and building of mechanisms which will maintain this financial stability. With dedication and abilities shown so far, I have full confidence that CBK will be able to successfully face these challenges,” said President Thaçi.

The head of state said he was confident that CBK will continue to strengthen the financial system and will play a supervisory role in economic development, through promotion of principles of free market and competitive economy.