After a favorable vote by the International Monetary Fund (IMF) members, Republic of Kosovo has been offered to become the 186th member of the IMF. At a session on May 5th 2009, the IMF members voted to approve membership of Republic of Kosovo to this important economic and financial institution.<\/p>\n
The often cited role of IMF is to provide financial assistance to countries undergoing serious economic and financial difficulties but IMF is also highly important in\u00c2\u00a0surveillance\u00c2\u00a0of economic and financial data, offering policy advice and giving technical\u00c2\u00a0assistance. IMF is also active in development of standards and codes for best practices, research and statistics.<\/p>\n
IMF is the first global economic and financial institution to accept Republic of Kosovo as a member. It is also a highly crucial one in time of difficult economic reforms when Kosovo needs support in form of\u00c2\u00a0expertise\u00c2\u00a0and funding.<\/p>\n
IMF membership, together with future membership to the World Trade Organization, World Bank, and other important economic institutions, is an important step towards economic progress in Kosovo.<\/p>\n
To accept membership, Republic of Kosovo must “formally accept, in accordance with its own laws,\u00c2\u00a0the IMF’s Articles of Agreement and all the terms and conditions prescribed in the Board of Governors’ resolution” states the IMF’s press release.<\/p>\n
We would like to thank our friends around the world for their support in this very important step.<\/p>\n