“Kosovo in IMF, World Bank by spring”
Kosovo Finance Minister Ahmet Shala says that Kosovo will become a member of the IMF and World Bank next spring.
Wednesday, 22.10.2008.
10:44
Kosovo Finance Minister Ahmet Shala says that Kosovo will become a member of the IMF and World Bank next spring. Shala said that an International Monetary Fund (IMF) delegation would present Kosovo’s quota share on the basis of its economic strength. “Kosovo in IMF, World Bank by spring” After returning from Washington where it participated at the annual IMF session in the capacity of an observer, the Kosovo government delegation said that Kosovo would soon become a member of the world’s two most important financial institutions—the IMF and the World Bank. Shala said that next month the IMF’s admittance committee would determine the quota share for Kosovo in accordance with its economic strength, and that this would be sent to the government and parliament in Pristina for adoption. "We believe that Kosovo will become a member of the IMF and World Bank by next spring,” the minister predicted. A country may only gain membership of the World Bank if it is already a member of the IMF. The Kosovo government applied for membership in both institutions in July. The admittance procedure takes from six to nine months. Pristina officials are optimistic that there are no serious obstacles to Kosovo joining those powerful financial institutions since no member has a veto option, unlike in the UN Security Council. Moreover, the majority of votes in both institutions belong to Western countries that have already recognized Kosovo’s independence.
“Kosovo in IMF, World Bank by spring”
After returning from Washington where it participated at the annual IMF session in the capacity of an observer, the Kosovo government delegation said that Kosovo would soon become a member of the world’s two most important financial institutions—the IMF and the World Bank.Shala said that next month the IMF’s admittance committee would determine the quota share for Kosovo in accordance with its economic strength, and that this would be sent to the government and parliament in Priština for adoption.
"We believe that Kosovo will become a member of the IMF and World Bank by next spring,” the minister predicted.
A country may only gain membership of the World Bank if it is already a member of the IMF.
The Kosovo government applied for membership in both institutions in July. The admittance procedure takes from six to nine months.
Priština officials are optimistic that there are no serious obstacles to Kosovo joining those powerful financial institutions since no member has a veto option, unlike in the UN Security Council. Moreover, the majority of votes in both institutions belong to Western countries that have already recognized Kosovo’s independence.
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