02079cas a2200241 a 4500 AALejournalIMF021534 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513569536 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. European Dept. Republic of Kosovo : 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of Kosovo. Washington, D.C. : International Monetary Fund, 2021. 1 online resource (89 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Kosovo has been hit hard by the COVID-19 pandemic. Despite policy support, economic activity is estimated to have fallen 6 percent in 2020 on account of the combined effect of strict domestic containment measures and international travel restrictions. The fiscal deficit increased to 7.7 percent of GDP, given the large fall in tax revenues and the implementation of mitigation and recovery measures of 4.2 percent of GDP. The current account deficit is estimated to have increased to 7.5 percent of GDP mainly due to a large decline in diaspora-related inflows, most notably in tourism. Gross international reserves declined but remain adequate in part due to the purchase under the IMF's Rapid Financing Instrument (RFI) in April 2020 and the use of other external financing. Banks have weathered the recession well to date, and the high pre-COVID19 liquidity levels and ample capital buffers bode well for the system's stability. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2021/041 Full text available on IMF http://elibrary.imf.org/view/journals/002/2021/041/002.2021.issue-041-en.xml IMF e-Library