News Brief: IMF Gives Final Approval of PRGF Arrangement for Albania
June 21, 2002
The Executive Board of the International Monetary Fund (IMF) has given its final approval of the three-year arrangement under the Poverty Reduction and Growth Facility for SDR 28 million (about US$36 million) for Albania to support the government's economic program (see Press Release No. 02/30).
The final decision by the IMF Executive Board was contingent on the World Bank Executive Board's endorsement of Albania's Growth and Poverty Reduction Strategy (GPRS) today. The decision will enable Albania to draw SDR 4 million (about US$5 million) under the PRGF from the IMF immediately.