Press Release No. 18/49

Statement by IMF Deputy Managing Director Tao Zhang at the Conclusion of his Visit to Albania

February 13, 2018

Mr. Tao Zhang, Deputy Managing Director of the International Monetary Fund (IMF), issued the following statement in Tirana today at the conclusion of his visit to Albania:

“It was a pleasure to have my first visit to Albania as Deputy Managing Director of the IMF. I’ve seen a country that has made significant progress in reducing poverty, maintaining stability, and developing the economy. This was thanks to the important reforms implemented by Albania.

“In my discussions with the authorities, I emphasized that this is the moment to accelerate reforms. The global economy is in an upswing. This includes Europe, where inflation and interest rates remain low. However, such favorable external conditions are not going to last forever. So now is the time to press ahead with reforms and build up stronger economic and financial defenses.

“I also discussed with authorities policies to boost Albania’s growth potential. These include improvements in infrastructure, education, and business environment, especially the rule of law. Reducing public debt is an important goal that can be achieved by strengthening public expenditure management and the tax system.

“To conclude, I would like to thank Prime Minister Edi Rama, Finance and Economy Minister Arben Ahmetaj, Bank of Albania Governor Gent Sejko, and other officials for their warm hospitality and for the opportunity to know more about Albania’s rich culture and historical heritage.”