Kosovo

Kosovo euroised from 2000, at an early stage in its separate development, and continued that policy after it claimed independence in 2008.

YearsTargets and attainmentClassification
2000-17formally province of Serbia, under UN administration (UN Mission in Kosovo, UNMIK) from June 1999 following war involving Serb forces and NATO bombing; 1999 use of DM (replaced by euro 2002) legalised, dinar remains legal tender but falls out of general use; Banking and Payments Authority set up to develop payments and banking systems, later bank supervision and regulation; strong remonetisation; new Constitutional Framework 2001 includes provisional institutions of self-government; elections to Assembly 2001, 2004; 2008 new government declares independence (not recognised by Serbia); 2008 central bank set up, with focus on financial development and stability; limited adverse effects from GFC 2008 (most banks foreign-owned, limited international integration except for high and continuing inflow of remittances); 2010 central bank legal powers extended; issues of fiscal control in context where no public debt securities existed before 2012 (first treasury bills); issue of appropriate level of forex reserves; efforts to develop framework for emergency liquidity assistance; 2014 fiscal ruleuse of another sovereign’s currency UASC

Selected IMF references: Kosovo – Macroeconomic Issues and Fiscal Sustainability 2000 pp3-6; Kosovo – Institutions and Policies for Reconstruction and Growth 2002 pp2-8, 11-13, 17-19; Kosovo – Gearing Policies towards Growth and Development 2004 pp38-50; Request for SBA 2010 pp4-6, 10-11; SR 2011 pp3-5, 19; SR 2013 pp9-12, 22-3; SR 2015 pp10-12.