Albania: Staff Report for the 2004 Article IV Consultation, Fifth Review Under the Poverty Reduction and Growth Facility, Request for Extension of the Arrangement, and Financing Assurances Review
IMF Staff Country Reports, March 10, 2005
Source details
- Canonical URL
- Albania: Staff Report for the 2004 Article IV Consultation, Fifth Review Under the Poverty Reduction and Growth Facility, Request for Extension of the Arrangement, and Financing Assurances Review
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Bibliographic details
- Published: March 10, 2005
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451800807.002
Summary findings
- The paper reviews Albania’s 2004 Article IV Consultation, Fifth Review Under the Poverty Reduction and Growth Facility (PRGF), Request for Extension of the Arrangement, and Financing Assurances Review.
- The macroeconomic performance of the Albanian economy has been described as remarkable by both regional and international standards.
- After a slowdown in 2002, economic growth recovered to about 6 percent in 2003–04.
- Inflation declined and generally remained within the 2–4 percent target range of the Bank of Albania.
- Some structural reforms gained momentum in 2004, notably privatization and sectoral restructuring.
Macroeconomic performance and stability
- Economic growth: recovered to about 6 percent in 2003–04 following a 2002 slowdown.
- Inflation: declined and generally remained within the 2–4 percent target range of the Bank of Albania.
- Overall assessment: performance characterized as remarkable by regional and international standards.
Structural reforms and policy developments
- Progress noted in privatization.
- Progress noted in sectoral restructuring.
- Context: reforms identified as gaining momentum in 2004.
Thematic coverage and policy areas
- Subjects listed: Arrears, Banking, Budget planning and preparation, External debt, Public debt, Public financial management (PFM), Revenue administration.
- Keywords (as provided): Albanian authorities, Arrears, authority, Budget planning and preparation, Central Asia, CR, Europe, Global, ISCR, policy agenda, PRGF arrangement, PRGF loan, tax administration official.