Albania: Staff Report for the 1999 Article IV Consultation, Request for the Second Annual Arrangement Under the Enhanced Structural Adjustment Facility, and Request for Augmentation

July 1, 1999

Summary

This paper reviews Albania’s 1999 Article IV Consultation, Request for the Second Annual Arrangement Under the Enhanced Structural Adjustment Facility, and a Request for Augmentation. Inflation fell to 2 percent in March 1999. The return to growth and low inflation reflected the government's adherence to strong fiscal consolidation efforts. The domestically financed component of the deficit was reduced to 6.4 percent of GDP in 1998 from 10.8 percent of GDP in 1997. The external current account deficit also fell sharply from 12 percent of GDP in 1997 to 6 percent of GDP.

Subject: Banking, Economic sectors, Expenditure, External debt, Imports, International trade, Monetary base, Money, Privatization

Keywords: authorities endeavor, authorities' plan, CR, crisis need, enterprise, Europe, government, Imports, ISCR, Kosovo crisis, Monetary base, Privatization, pyramid scheme

Pages:
67
Volume:
1999
DOI:
https://doi.org/10.5089/9781451800623.002
Issue:
050
Series:
Country Report No. 1999/050
Stock No:
1ALBEA0011999
ISBN:
9781451800623
ISSN:
1934-7685

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Notes

Included with the Staff Report is the text of Public Information Notice No. 99/51--IMF Concludes Article IV Consultation with Albania.

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