PRISTINA – The International Monetary Fund has approved a loan of € 51.6 million ($ 56.06 million) for Kosovo to help tackle the economic crisis caused by the new coronavirus and to solve pressing balance-of-payments problems payments, said the international lender.
He said the pandemic would hit Kosovo’s economy hard.
“The economy is expected to contract by 5% in 2020 as tourism receipts, remittances, merchandise exports and FDI will decrease due to travel restrictions and the effect of COVID-19 on trading partners and countries of origin of remittances, “said the IMF. in a report.
The small Balkan country expected economic growth of around 4% this year.
The government has said it will inject some € 180 million into the economy of around € 8 billion to help the private sector cope with the crisis.
As of Friday, some 250 people were infected with the coronavirus in Kosovo, including seven dead.
(Report by Fatos Bytyci; Edition by Daniel Wallis)