Kosovo heads for ruin while its watchdog looks on

guardian.co.uk

The fiscally irresponsible Kosovan government is messing up its IMF programme – but the International Civilian Office fails to act

                                Andrea Capussela

guardian.co.uk, Monday 30 May 2011 10.41 BST

The IMF is expected to make an announcement later today in which it declares Kosovo's programme to be off-track. This would be a rare event, because governments seldom break their commitments to the IMF. Since its controversial declaration of independence in 2008, Kosovo has struggled to be accepted in the international community; recognised by fewer than half of the UN member states, its only success so far was to enter into the IMF and the World Bank. It wanted an IMF programme to strengthen its credibility and to satisfy conditions tied to large grants from the EU and the World Bank. Now, however, both money and credibility look to be lost, and the irresponsibility of its government is leading Kosovo towards a fiscal crisis....more...
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http://www.guardian.co.uk/commentisfree/2011/may/30/kosovo-imf-international-civilian-office

read more: guardian.co.uk