This paper discusses Albania’s Fourth Review Under the Extended Arrangement and Request for Modification and Waiver of Applicability of Performance Criteria (PC). Economic recovery is under way, but growth remains below potential. The low oil price is expected to have a muted effect on growth and on the balance of payments, as pass-through is weak and Albania is only a small net oil exporter. The program is on track. All end-December 2014 and continuous PCs and most indicative targets were met, with comfortable margins. The IMF staff supports the completion of the Fourth Review under the Extended Arrangement, as well as the modification and waiver of applicability of PC.
This paper discusses Albania’s Second and Third Reviews Under the Extended Arrangement and Request for Waiver for the Nonobservance of Performance Criterion, Waiver of Applicability of PCs, and Rephasing of Future Disbursements. The program is on track. All end-June, end-September, and available end-December quantitative PCs were met. However, the continuous PC on the accumulation of external arrears was not observed because of technical delay with one interest payment. The IMF staff supports the authorities’ request for the completion of the second and third reviews under the Extended Arrangement, waiver of applicability of PCs, and rephasing of future disbursements.
This paper focuses on the Poverty Reduction Strategy Paper—National Strategy for Development and Integration (PRSP–NSDI) for Albania. The paper provides an overview of the key challenges facing the country. It presents a brief statement of the national vision, identifies the strategic priorities, and articulates the strategic goals to be achieved. The paper also summarizes the key points of each of the underlying strategies by strategic priority, and discusses the main changes in the distribution of resources across broad sectors that will be needed in the period 2007–13.
This paper aims to inform on the status of Poverty and Social Impact Analysis (PSIA) in IMF-supported programs, detailing the results presented in the recent review of PRGF-supported programs. The review showed that more needs to be done, both in undertaking PSIA when necessary, and in reporting the policy tradeoffs in program documents. Policy design should be continuously informed by the results of PSIA.
In this study, the following statistical data are presented in detail: GDP by sector of origin, construction of cost index, consumer price subsidies, agricultural production, production and yields of selected fruits, consumer price index, population, labor force, and employment, employment and wages in budgetary institutions, fiscal accounts, central government expenditure shares, tax revenue shares, interest rate shares, monetary survey, credit in state-owned banks, balance sheet of the bank of Albania, area under cultivation, production, and yields of selected agricultural crops, and so on.
International Monetary Fund. External Relations Dept.
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In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Mr. R. B. Johnston, Mrs. Piroska M Nagy, Mr. Roy Pepper, Mr. Mauro Mecagni, Ms. Ratna Sahay, Mr. Mario I. Bléjer, and Mr. Richard J Hides
This study reviews Albania's historical and political background, as well as economic developments in 1991. It describes the centrally planned economic system up to the onset of reform and analyzes economic performance in the 1980s.
Although a centerpiece of the reform process in Central and Eastern Europe, large-scale privatization cannot be undertaken all at once and policymakers inevitably face the choice of privatizing some sectors before others. This paper analyzes the allocative efficiency implications of alternate sequences of privatization in a reforming planned economy with two sectors—an input-producing upstream sector and a final goods-producing downstream sector. The model focuses on the link, through a market for intermediate inputs, between the two sectors. The impact of exogenous shocks to the two sectors are highlighted to show how the inflexibility of public firms in responding to shocks constrains the production response of private firms operating in perfectly as well as imperfectly competitive markets.