Ex-post evaluation of Macro Financial Assistance operations to Kosovo

Client/Funding Institution

European Commission, DG Economic and Financial Affairs


Under its Financial regulation, the EC is legally obliged to evaluate its main programmes, including Macro Financial Assistances (MFA). The main objective of this ex-post evaluation was to learn key lessons which can be applied to future interventions and/or to identify a possible need for a reorientation of the present EC approach. The evaluation focused on three core areas of economic effects: (1) macroeconomic effects; (2) structural effects and (3) effects on the sustainability of the external financial situation. Each area focused on the effects over specific time horizons: macroeconomic developments were assessed on short-term effects (up to 2 years after the initial disbursement), the structural effects on the economy and institutions on short- and medium- term effects (up to 4 years after the initial disbursement) and the external financial situation on medium- to long-term effects (3 years or more).


March 2012 - October 2012

wiiw team Leader

Vladimir Gligorov

wiiw Staff

Mario Holzner, Veronika Janyrova

Project Partners

Ecorys, CASE

Keywords: macroeconomic analysis, impact evaluation, Kosovo, SEE

Countries covered: Balkan States, CESEE, Kosovo, SEE

Research Areas: Macroeconomic Analysis and Policy