4 hours agoThe IMF warns Government of the “New Kosovo”
Periskopi(7 years ago)
(7 years ago)Following the World Bank's withdrawal from the project to build the “New Kosovo”, the Government of Kosovo seems to have no good jobs with the International Monetary Fund (FMN), the Economic Bulletin follows. In an IMF communiqué for Kosovo released today, this institution warned the Government about financing the power plant, and [...]
Following the World Bank's withdrawal from the project to build the “New Kosovo”, the Government of Kosovo seems to have no good jobs with the International Monetary Fund (FMN), the Economic Bulletin follows.
In an IMF communiqué for Kosovo released today, this institution warned the Government about funding the thermal power plant, and asked that everything be within public debt regulations.
Currently, the level of public debt has exceeded the figure of 1 billion euros, but The IMF stresses that very soon it can reach the 1.5 per cent level of GDP, thus being offered to the border.
“Cdo government support for the new plant through guarantees or financing should be in line with fiscal rules and the sustainability of public debt”, said the IMF communiqué, reminding the Government that public stock cannot pass the 2 per cent border regulation of GDP.
Further in the communiqué it says that “even though the proposed new thermal power plant will ease electricity woes and stimulate development, it will expand the budget deficit during the construction phase and yet depending on financial agreements ) can significantly increase public debt”.
