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Sep 18, 2009 16:47 EEST
September 18 (SeeNews) - Kosovo’s central bank governor Hashim Rexhepi said he expected the economy to grow by 3.8% this year, slower than the 5.8% real growth achieved in 2008, Reuters reported.
"Kosovo will have around 3.8% growth this year," Rexhepi told Reuters in an interview in Albania’s capital Tirana, where he attended a regional conference of central bank governors organised by Bank of Albania.
"This is thanks to the use of the euro, fiscal stability in Kosovo and the very balanced budget,” Rexhepi said.
Kosovo, where 90% of the population is ethnic Albanian and the rest are Serbs, declared its secession from Serbia in February, 2008. Its independence has been recognised by more than 60 countries so far, including the U.S. and most of the EU members.
Just five months after proclaiming its independence Kosovo applied for membership in the World Bank and the International Monetary Fund. In June this year it was accepted as a full member by both global lenders.
Rexhepi said that Kosovo has no plans to seek IMF financial aid to cope the adverse effects of the global economic downturn, adding that the crisis has had a limited impact on the financial sector in Kosovo thanks to the use of the euro as legal tender.
The governor said that Kosovo government has started talks with the IMF for a short-term lending facility, to be used only if a liquidity problem emerges. Rexhepi did not announce the amount of the loan facility as the talks are still at a very early stage.
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