Press Release: IMF Executive Board Completes Sixth Review Under a PRGF Arrangement with Albania and Approves US$5.8 Million Disbursement

August 1, 2005

The Executive Board of the International Monetary Fund (IMF) today completed the sixth review of Albania's performance under the three-year Poverty Reduction and Growth Facility (PRGF) arrangement. The completion of the review will enable the release of an amount equivalent to SDR 4.0 million (about US$5.8 million), which will bring the total disbursement under the program to SDR 28.0 million (about US$40.5 million).

In completing the review, the Board approved the authorities' request for a waiver for the nonobservance of the performance criterion pertaining to the implementation of the risk assessment module of the ASYCUDA computer system for customs inspections.

The three-year arrangement was approved on June 21, 2002 (see News Brief No. 02/52) for a total of SDR 28.0 million (about US$40.5 million).


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