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

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.

MoreLess

Year of publication:	2008-04-10
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Economic reforms \| Economic growth \| Electric power \| Poverty Reduction and Growth Facility \| Structural adjustment \| debt \| external debt \| loans \| interest \| payments \| debt management \| public debt \| liabilities \| treasury bills \| balance of payments \| current account \| taxpayers \| domestic currency \| debt service \| fiscal policy \| expenditures \| commercial borrowing \| debt rescheduling \| government securities \| obligations \| domestic debt \| public expenditure \| debt sustainability \| commercial debt \| taxes \| creditors \| collections \| debt burden \| reserve assets \| debt forgiveness \| restructuring \| central bank \| external borrowing \| repayment \| publicly-guaranteed \| debt management capacity \| current account deficit \| external payments arrears \| external payments \| current account balance \| debt reduction \| long-term external debt \| payment agreements \| public finances \| long-term loans \| government debt \| private creditors \| secondary markets \| domestic financing \| tax collection \| repayments \| local taxes \| multilateral loans \| budget law \| domestic borrowing \| long-term debt \| payment arrears \| external debt database \| treasury bonds \| public finance \| external debt statistics \| foreign debt \| domestic public debt \| bilateral loans \| debt database \| credit risk \| external debt service \| domestic financial market \| debt stock \| tax revenues \| external financing \| direct loans \| total external debt \| reserve management \| official creditors \| deficits \| payroll tax \| general resources account \| public and publicly guaranteed debt \| external debt stock \| property tax \| solvency \| current account deficits \| regulatory environment \| debt statistics \| debt instruments \| external shocks \| export credit \| domestic savings \| repurchases \| private credit \| debt management unit \| consumer credit \| external debt position \| credit cards \| loan disbursements \| institutional investors \| currency composition \| budget expenditures \| credit demand \| public debt management \| external payment \| private external debt \| commercial loans \| domestic financial markets \| cash management \| debt service obligations \| public and publicly guaranteed \| suppliers ? credits \| debts

freely available

Full text |

More access options

Check Google Scholar

In German libraries (KVK)

I need help

More details

Extent:	application/pdf
Series:	IMF Staff Country Reports.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Staff Country Reports Number 08/128 8 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011242528