The International Monetary Fund (IMF) said on Thursday that it opposes the withdrawal of funds from the Pension Savings Fund in Kosovo, arguing that such a decision would deal a severe blow to the stability of the pension system and reduce the real value of pensions.
“IMF staff cautioned strongly against additional withdrawals from the private pension fund (KPST), as these would represent a heavy blow to the viability of the pension system and strongly reduce the real value of future pensions. The withdrawals would also translate into a large compression of domestic capital markets, seriously compromising budgetary financing and debt sustainability.”
The IMF statement came on the same day as dozens of citizens in Pristina protested in front of the Kosovo Assembly building, demanding that lawmakers approve legal changes to enable the withdrawal of up to 30 percent of funds.
Such a request was initially initiated by the Democratic Party of Kosovo and was supported by other opposition parties.
Their rationale was to help citizens cope with rising consumer prices.
However, the ruling party, Vetevendosje, rejects such a thing, arguing that it does not help the categories in need, as the percentage of their pension fund is low.
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