IMF: Abolish the laws that cost you €80 million

Prishtinë, 28.11.2006 – Lajm reports that the IMF recommended to the Assembly and the Government of Kosovo to abolish three laws: the Law on War Martyrs, the Law on Labor, and the Law on Pensions, as their implementation would cost the Kosovo Budget €80 million .

The Minister of Economy and Finance, Haki Shatri, confirmed to Lajm that during his visit to the USA the IMF recommended these changes. “In most cases I have respected IMF recommendations, but this time I can not allow them to interfere in the decisions of the Assembly and the Government,” said Shatri.

According to Shatri, the laws were approved by the Assembly and also signed by the SRSG and as such it is an obligation the Government must respect.

Minister of Labor and Social Welfare, Ibrahim Selmanaj, also opposes the IMF recommendation. “We welcome the IMF recommendation, but I think that the Law on War Martyrs and the Labor Relations Law must be implemented,” said Selmanaj.

Bank of Ljubljana requests 51% of shares in Kasabank (Koha Ditore)

Nova Ljubljanska Banka (NLB) and Kasabank have been negotiating for several months over the possibility that NLB purchase the majority shares of Kasabank. The Slovenians request to purchase 51% of the shares from the management, reported Koha Ditore.

“The problem is that NLB insists on buying 51% of the shares of Kasabank and we want to keep the majority shares of our bank,” said General Director of Kasabank Milazim Abazi.

Abazi also said the Kasabank management wishes to increase the capital of Kasabank, hence their offer remains 49%.

“Shares are permitted to be sold only in cases when our depositors are at risk and the bank may go bankrupt,” said banking system expert in Kosovo Flamur Keqa. Keqa also said the local capital must be preserved, but only in cases when it is healthy and there is a reason to preserve it. Otherwise the capital must be sold for the sake of the clients to preserve the financial stability, reported Koha Ditore.