IMF Staff Country Reports

Albania: Fourth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Review Under the Extended Arrangement, and Financing Assurances Review: Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Albania

April 10, 2008

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Albania: Fourth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Review Under the Extended Arrangement, and Financing Assurances Review: Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Albania, (USA: International Monetary Fund, 2008) accessed December 23, 2024

Summary

The main challenges for this review were to further redress long-running problems in the energy sector and to balance fiscal policy requirements for development spending with macroeconomic stability. The financial position of the state-owned electricity company (KESH) deteriorated significantly more than anticipated. The authorities have adopted a two-pronged solution to the electricity crisis. The authorities are prioritizing the strengthening of regulation to assure financial stability in a rapidly maturing financial system. The proposed conditionality for the Fifth Review is consistent with program goals, and the program is fully financed.

Subject: Banking, Budget planning and preparation, Commodities, Credit, Electricity, Financial institutions, Foreign exchange, Loans, Money, Public debt

Keywords: Albanian authorities, Authority, CR, Credit, Electricity, Europe, Global, IMF staff representative, Inflation expectation, ISCR, Loans, Property damage, Staff appraisal, Supervisory authority

Publication Details

  • Pages:

    81

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2008/128

  • Stock No:

    1ALBEA2008001

  • ISBN:

    9781451800913

  • ISSN:

    1934-7685

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