Albania: Sixth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility Request for a Waiver of Nonobservance of Performance Criterion and Financing Assurances Review: Sixth Review Under the Three-Year Arrangement Under

Sixth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review

Author: International Monetary Fund

Volume/Issue: Volume 2005 Issue 267

Publication date: August 2005

ISBN: 9781451800821

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Topics covered in this book

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Banks and Banking , Exports and Imports , Money and Monetary Policy , Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , deposit money banks deposits , SDR , PRGF arrangement , amount equivalent to SDR , completion of the review , policy tightening , risk assessment module , Credit , Arrears , Central Asia , Europe , Global

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Summary

This paper discusses key findings of the Sixth Review Under the Extended Arrangement Under the Poverty Reduction and Growth Facility (PRGF) for Albania. The macroeconomic performance of the Albanian economy has been good overall, with sustained growth and low inflation. Weak infrastructure and institutions, however, hold back export performance, and the economy remains dependent on migrant remittances to finance a large trade deficit. The 2005 macroeconomic outlook remains at 6 percent growth and about 3 percent inflation.