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
Electronic Access:
Free Download. Use the free Adobe Acrobat Reader to view this PDF file
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.
Series:
Country Report No. 2008/128
Subject:
Banking Budget planning and preparation Commodities Credit Electricity Financial institutions Foreign exchange Loans Money Public debt
English
Publication Date:
April 10, 2008
ISBN/ISSN:
9781451800913/1934-7685
Stock No:
1ALBEA2008001
Pages:
81
Please address any questions about this title to publications@imf.org