BQK: No decision has yet been made to delay loan installments

The CEC has come up with clarification to the public about extending the loan installment deadline.

Full announcement:

On Saturday at many portals in the country has been published news titled: “BQC extends the loan installment time”.

In order to provide fair information to the public, the Central Bank of the Republic of Kosovo wants to clarify once again that no new decision has been made for a series of deadlines on payment of loan installments.

Once again, we explain that the decision remains that the deadline for the payment of credit installments will be 3 months, from March 16th to June 16, 2020, for creditors who have faced financial difficulties, as a result of the decline of personal or business revenues due to Devid 19.

As we have informed earlier, during this period the lending institutions will not apply punitive interest, will not apply credit rating changes to creditors, and the CEC will not seek additional benefits from these institutions, for extended loans. Meanwhile, regular interest for these three months will be estimated, whose payment will be distributed for at least six months or earlier, in credit maturity cases before this period.

The CEC calls on the lending institutions to implement this requirement, with the goal of facilitating and preserving the liquidity of creditors during this period of halting the activity of many economic activities due to pandemic.

The CEC will continue to monitor economic and financial sector developments very carefully, so that we can make our contribution to the recovery of the economy, but always by putting in first the preservation of financial stability that is also the priority task of the CEC.