Albania: Third Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review

January 30, 2004

Preview Citation

Format: Chicago

Albania: Third Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review, (USA: International Monetary Fund, 2004) accessed November 24, 2024

Summary

The economy has thus far been fairly resilient to recent political uncertainties, although the reform process has been adversely affected. Continued growth will depend to a large extent on higher private investment, which will require further improvements in governance and the implementation of reform. The combination of a better investment climate and sound fiscal management is essential for ensuring external viability. Monetary policy has been successful, but rapid changes in the financial system call for continued vigilance. Program implementation has been uneven, but satisfactory.

Subject: Arrears, Budget planning and preparation, Expenditure, External debt, Public financial management (PFM), Revenue administration

Keywords: Albanian authorities, Albania's Poverty Reduction and Growth Facility, Arrears, Budget planning and preparation, Contingency expenditure plan, CR, Europe, Fund program, Government, ISCR, PRGF arrangement, PRGF loan, PRGF-supported program, Reform agenda, Staff recommendation

Publication Details

Pages:

71
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2004/022
Stock No:

1ALBEA0012004
ISBN:

9781451800678
ISSN:

1934-7685

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