This 2013 Article IV Consultation for Albania focuses on economic developments and policies that have led to weakening and imbalance of the economy. It highlights that high nonperforming loans (NPLs) are constraining credit growth, and weak external drivers are preventing a sustained reduction...

Background: In February 2014, the Executive Board approved a three-year Extended Arrangement with access equivalent to SDR 295.42 million (492.4 percent of quota). So far, four purchases totaling the equivalent of SDR 123.1 million have been made, and another one equivalent to SDR 57.76 million...

This technical assistance report on the Republic of Kosovo presents details of residential property price index (RPPI) mission. The authorities are strongly committed to developing a publicly available RPPI for Kosovo. Transactions data from real-estate companies should be used for the...

This paper presents the technical assistance report on investment funds and interconnectedness risks in Albania. The fund sector has been expanding and remains highly concentrated. Interconnectedness between funds and the rest of the financial system is limited. On the liability side, retail...

Albania is formulating a Medium-Term Revenue Strategy (MTRS) with IMF support. The decision to commit to the development of an MTRS was taken against the background of revenue persistently falling short of budget projections, revenue continuing to lag behind regional peers in tax to Gross...

The purpose of this mission was to assist the General Directorate of Taxes (GDT) in taking stock of reform efforts and provide advice on future efforts. In recent years, the GDT made solid progress in realizing its reform agenda. The mission took stock of the reform achievements and identifies...

The 2023 Article IV Consultation discusses that the Albanian economy has shown remarkable resilience in the face of consecutive shocks. Returning inflation to target will likely require some further increases in the policy rate. The rising role of tourism has boosted confidence in the country's...

Past efforts to build policy buffers and a broadly appropriate macroeconomic policy mix during 2020-21 have helped Albania withstand the impact of consecutive shocks since 2019. Growth is expected to remain solid in 2022 before decelerating in 2023, and inflation is projected to return to the...

Albania's economy has shown considerable resilience in the face of the 2019 earthquake and the pandemic. After the hardship endured in 2020, real GDP is rebounding strongly by a projected 7.8 percent in 2021. Policies have played a critical role in preserving lives and livelihoods and thereby...