Abstract
2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Albania
Fund Relations
(As of November 30, 2018)
Membership Status: Joined October 15, 1991; Article VIII.
| General Resources Account: | SDR Million | Percent Quota |
|---|---|---|
| Quota | 139.30 | 100.00 |
| IMF’s Holdings of Currency | 406.86 | 292.07 |
| Reserve Tranche Position | 26.00 | 18.67 |
| General Resources Account: | SDR Million | Percent Quota |
|---|---|---|
| Quota | 139.30 | 100.00 |
| IMF’s Holdings of Currency | 406.86 | 292.07 |
| Reserve Tranche Position | 26.00 | 18.67 |
| SDR Department: | SDR Million | Percent Allocation |
|---|---|---|
| Net cumulative allocation | 46.45 | 100.00 |
| Holdings | 86.02 | 185.19 |
| SDR Department: | SDR Million | Percent Allocation |
|---|---|---|
| Net cumulative allocation | 46.45 | 100.00 |
| Holdings | 86.02 | 185.19 |
| Outstanding Purchases and Loans: | SDR Million | Percent Quota |
|---|---|---|
| Extended Arrangement | 293.56 | 210.74 |
| ECF Arrangements | 0.12 | 0.09 |
| Outstanding Purchases and Loans: | SDR Million | Percent Quota |
|---|---|---|
| Extended Arrangement | 293.56 | 210.74 |
| ECF Arrangements | 0.12 | 0.09 |
Latest Financial Arrangements:
| Type | Approval Date | Expiration Date | Amount Approved (SDR Million) | Amount Drawn (SDR Million) |
|---|---|---|---|---|
| EFF | Feb. 28, 2014 | Feb. 24, 2017 | 295.42 | 295.42 |
| ECF1 | Feb. 1, 2006 | Jan. 31, 2009 | 8.52 | 8.52 |
| EFF | Feb. 1, 2006 | Jan. 31, 2009 | 8.52 | 8.52 |
| Type | Approval Date | Expiration Date | Amount Approved (SDR Million) | Amount Drawn (SDR Million) |
|---|---|---|---|---|
| EFF | Feb. 28, 2014 | Feb. 24, 2017 | 295.42 | 295.42 |
| ECF1 | Feb. 1, 2006 | Jan. 31, 2009 | 8.52 | 8.52 |
| EFF | Feb. 1, 2006 | Jan. 31, 2009 | 8.52 | 8.52 |
Projected Payments to Fund:
(SDR Million; based on existing use of resources and present holdings of SDRs)
| Forthcoming | |||||
|---|---|---|---|---|---|
| 2018 | 2019 | 2020 | 2021 | 2022 | |
| Principal | 1.96 | 14.40 | 27.71 | 44.46 | 49.24 |
| Charges/Interest | 6.59 | 5.84 | 4.91 | 3.91 | |
| Total | 1.96 | 20.99 | 33.55 | 49.37 | 53.15 |
| Forthcoming | |||||
|---|---|---|---|---|---|
| 2018 | 2019 | 2020 | 2021 | 2022 | |
| Principal | 1.96 | 14.40 | 27.71 | 44.46 | 49.24 |
| Charges/Interest | 6.59 | 5.84 | 4.91 | 3.91 | |
| Total | 1.96 | 20.99 | 33.55 | 49.37 | 53.15 |
Safeguards Assessments. A safeguards assessment update of the Bank of Albania (BoA) was completed in June 2014 and a monitoring report was completed in August 2015. The assessments found that since 2006 the Bank of Albania has strengthened its safeguards framework in a number of areas, including in its external and internal audit and financial reporting functions, all of which are being aligned with international standards. However, the governance structure at the BoA lacked effective oversight of audit, financial reporting, and control matters, and the assessment recommended the establishment of an audit committee. The assessment also recommended that the bank’s compilation procedures for the reporting of net international reserves and credit to government reviewed by its internal audit department at each test date. After a new Governor and a new Inspector General were appointed in mid-2015, there have been improvements in the BoA’s safeguards framework, through the implementation of safeguards recommendations, including establishing an Audit Committee governed by a charter aligned with international best practice, as well as engaging an external expert to assist it. In addition, the internal audit function resumed operations following the appointment of a new Inspector General, and financial statements are now prepared in accordance with International Financial Reporting Standards (IFRS).
Exchange Rate Arrangement: On July 1, 1992 the Albanian authorities adopted a floating exchange rate system. The de jure exchange rate system is classified as free floating, while the de facto exchange rate arrangement is floating, with the monetary authorities occasionally intervening in the foreign exchange market to accumulate reserves and avoid excessive disruptions in the functioning of the market. On February 21, 2015, Albania accepted the obligations under Article VIII, Sections 2(a), 3, and 4, but continues to maintain an exchange restriction in the form of outstanding debit balances on inoperative bilateral payment agreements. These were in place before Albania became a Fund member in 1991, and relate primarily to debt in nonconvertible and formerly nonconvertible currencies. The exchange rate stood at lek 109.69 per U.S. dollar on November 30, 2018.
Article IV Consultation: The 2017 Article IV consultation was concluded on December 4, 2017 (IMF Country Report No. 17/373).
FSAP Participation, ROSCs: The most recent FSAP was carried out in November 2013 (with a Board date of February 28, 2014). A data module ROSC was published on the Fund’s website in June 2000. A fiscal ROSC was completed in June 2003. Albania participates in the enhanced General Data Dissemination System (e-GDDS), and a complete set of e-GDDS data with accompanying metadata for the external, financial, fiscal, and real sectors, as well as for the socio-demographic indicators, is posted on Albania’s National Summary Data Page, which can be found on the Fund’s Dissemination Standards Bulletin Board (http://dsbb.imf.org). A data module ROSC reassessment using the Data Quality Assessment Framework was conducted in March 2006.
AML/CFT assessment:
Albania has been assessed against the 2012 Financial Action Task Force (FATF) standards during an onsite visit carried out in October 2017 by the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (Moneyval). The assessment report was adopted by the Moneyval plenary in July 2018 and has been published in December 2018.
Technical Assistance: The Fund, other multilateral organizations, and donors have provided extensive technical assistance for institutional development in Albania. The Fund has sent multiple technical assistance missions to Albania every year since 1991. The extent and focus of Fund TA since FY 2013 is briefly summarized below.
Resident Representative: the resident representative position was closed in July 2018, while maintaining the local Fund office in Tirana.
Albania—Technical Assistance Since FY2013
Albania—Technical Assistance Since FY2013
| Department | Purpose | Date |
|---|---|---|
| FAD | Tax Administration | Multiple (nearly monthly) visits. |
| Public Financial Management | October 2012, November 2013, April 2014, July 2014, September 2014, November 2014, March 2015, March-April 2016, July 2016, September 2016, October 2016, March 2017, September 2017, October-November 2017 December 2018 | |
| Tax Policy | November 2013, March 2014, September 2014, June 2015, September 2016, September 2017; October 2017, June 2018, September 2018, | |
| Fiscal Transparency Evaluation | June 2015 | |
| LEG | Deposit Insurance Law | February 2014 |
| Tax Law | March 2015, May 2015, June 2018, November-December 2018 | |
| NPL Resolution | April 2015 | |
| MCM | IFRS 9 Implementation and capital structure review | May 2013, February 2017 January 2018, November 2018 |
| Basel II Implementation | June 2013 | |
| Stress Testing | September 2013 | |
| Regulatory Framework for Investment Funds | March 2014, October 2014 | |
| NPL Resolution | September 2014, November 2015 | |
| Central Bank Accounting and Official Foreign Exchange Transactions | January 2015, October 2018 | |
| Banking Supervision and Regulation | July 2015.May 2018 | |
| Long-Term Resident Advisor on Monetary Policy | September 2015-August 2018 | |
| Financial Stability, systemic risk analysis | April 2018, November 2018 | |
| Financial management and accounting policy framework | September 2018 | |
| Monetary Policy Design and Implementation | January 2016, September 2016, December 2016, February 2017, September 2017, September 2018 | |
| Long-Term Resident Advisor on Banking Supervision and Financial Stability | since July 2017 | |
| Department | Purpose | Date |
| STA | Price Statistics | September 2013 |
| External Sector Statistics | April 2014, January 2016, April-May 2017 | |
| Government Finance Statistics | October 2014, May 2015, May-June 2016, November 2016, May 2017, June 2017, September 2017, April 2018, May 2018, November 2018 | |
| National Accounts Statistics | November 2014, May 2015, April 2017, September 2017, March 2018 | |
| Enhanced General Data Dissemination System | April 2017 | |
| Monetary and Financial Statistics | July 2017 |
Albania—Technical Assistance Since FY2013
| Department | Purpose | Date |
|---|---|---|
| FAD | Tax Administration | Multiple (nearly monthly) visits. |
| Public Financial Management | October 2012, November 2013, April 2014, July 2014, September 2014, November 2014, March 2015, March-April 2016, July 2016, September 2016, October 2016, March 2017, September 2017, October-November 2017 December 2018 | |
| Tax Policy | November 2013, March 2014, September 2014, June 2015, September 2016, September 2017; October 2017, June 2018, September 2018, | |
| Fiscal Transparency Evaluation | June 2015 | |
| LEG | Deposit Insurance Law | February 2014 |
| Tax Law | March 2015, May 2015, June 2018, November-December 2018 | |
| NPL Resolution | April 2015 | |
| MCM | IFRS 9 Implementation and capital structure review | May 2013, February 2017 January 2018, November 2018 |
| Basel II Implementation | June 2013 | |
| Stress Testing | September 2013 | |
| Regulatory Framework for Investment Funds | March 2014, October 2014 | |
| NPL Resolution | September 2014, November 2015 | |
| Central Bank Accounting and Official Foreign Exchange Transactions | January 2015, October 2018 | |
| Banking Supervision and Regulation | July 2015.May 2018 | |
| Long-Term Resident Advisor on Monetary Policy | September 2015-August 2018 | |
| Financial Stability, systemic risk analysis | April 2018, November 2018 | |
| Financial management and accounting policy framework | September 2018 | |
| Monetary Policy Design and Implementation | January 2016, September 2016, December 2016, February 2017, September 2017, September 2018 | |
| Long-Term Resident Advisor on Banking Supervision and Financial Stability | since July 2017 | |
| Department | Purpose | Date |
| STA | Price Statistics | September 2013 |
| External Sector Statistics | April 2014, January 2016, April-May 2017 | |
| Government Finance Statistics | October 2014, May 2015, May-June 2016, November 2016, May 2017, June 2017, September 2017, April 2018, May 2018, November 2018 | |
| National Accounts Statistics | November 2014, May 2015, April 2017, September 2017, March 2018 | |
| Enhanced General Data Dissemination System | April 2017 | |
| Monetary and Financial Statistics | July 2017 |
Statistical Issues
(As of September 30, 2018)
| I. Assessment of Data Adequacy for Surveillance | |
| General: Data provision has some shortcomings, but is broadly adequate for surveillance. The main obstacles are in real sector statistics and weak inter-institutional cooperation between government agencies. | |
| National accounts: National accounts compilation has been improving in the last few years and is now generally compliant with the System of National Accounts 2008 and the European System of Accounts 2010. However, there is still room for further improving methodologies and compilation techniques, especially regarding GDP estimates by the expenditure approach. Better source data would significantly enhance national accounts estimates. Although formal agreements for sharing data among government agencies have been signed, in some cases the cooperation needs to be more effective. Very ambitious objectives combined with severe resource constraints at INSTAT complicate improvements in basic indicators. Currently, quarterly GDP estimates are released with a lag of 90 days and the first annual estimates are published around 15 months after year-end. Data are subject to large revisions and there are significant discrepancies between the aggregated quarterly estimates and the annual national accounts results, due to differences in compilation methods, and between the GDP compilation by the expenditure and by the production approach. In May 2018, INSTAT published the first two non-financial institutional sector accounts for the years 2013–2015. Labor statistics: The Labor Force Survey (LFS) is of insufficient quality. The treatment of agricultural employment needs to improve, as currently all individuals that own agricultural land are considered self-employed by the survey. Various shortcomings in the LFS lead to lack of reliable income and wage indicators. Poverty data are available with a substantial lag, compared to other CESEE countries. Price statistics: Compilation generally follows international standards. Since December 2015, INSTAT updates annually the CPI weights using the results of a new national Household Budget Survey. The PPI and construction cost indexes are published on a quarterly basis, due to resource constraints. |
|
| Government finance statistics: Fiscal source data are adequate to allow a broad presentation of the Albanian fiscal operations in line with the Government Finance Statistics Manual (GFSM)2014, but still does not cover the entire general government (some extrabudgetary units are not covered). Despite recent and ongoing efforts, accounts payable data continue to have some issues, with amounts included in the IMF program not being reconciled to values in the financial accounting records or in the STA GFS database. There has been good progress over the last 3 years, including a 6-year time series of comprehensive GFS data and a full balance sheet. Consistency across fiscal surveillance, GFS Yearbook, and other macroeconomic reporting is being improved. | |
| Monetary statistics: The monetary data compilation framework conforms to the methodology recommended in the Monetary and Financial Statistics Manual (MFSM) 2000. The survey of depository corporations covers the Bank of Albania (BoA) and all the other deposit-taking institutions (commercial banks and savings and loans associations, or SLAs). The accounts of the SLAs, with the exception of loans, are produced on a cash basis, which contrasts with the MFSM’s recommendation of accrual accounting. Another deviation from the MFSM’s methodology is that the BoA’s and commercial banks’ holdings of nontradable long-term securities are recorded at book value. | |
| External sector statistics: Balance of Payments and International Investment Position (IIP) data are compiled by the BoA with a time lag of less than 90 days and are methodologically sound. The adoption of recommendations from IMF technical assistance missions has improved the measurement of compensation of employees and remittances, facilitated compilation of quarterly IIP, currency composition data on debt assets and liabilities, and the Reserves Data Template. Albania also participates in the IMF’s Coordinated Portfolio Investment Survey (CPIS) and Coordinated Direct Investment Survey (CDIS). Challenges remain in the measurement of remittances, some financial account transactions outside the banking system, and foreign assistance (data on grants from abroad not channeled through the central government are fragmented and require consolidation). Improving grant coverage requires closer collaboration between the Donor Coordination Unit in the Office of the Prime Minister, the Ministry of Finance, and the Bank of Albania. The external debt database ensures timely and accurate reporting of external public debt (including commitments of state-owned enterprises). |
|
| II. Data Standards and Quality | |
| Albania participates in the Enhanced General Data Dissemination System (e-GDDS). The country published a National Summary Data Page in June 2017 at http://instat.gov.al:8080/NSDPAlbania/. | Data ROSC published in October 2006. |
| I. Assessment of Data Adequacy for Surveillance | |
| General: Data provision has some shortcomings, but is broadly adequate for surveillance. The main obstacles are in real sector statistics and weak inter-institutional cooperation between government agencies. | |
| National accounts: National accounts compilation has been improving in the last few years and is now generally compliant with the System of National Accounts 2008 and the European System of Accounts 2010. However, there is still room for further improving methodologies and compilation techniques, especially regarding GDP estimates by the expenditure approach. Better source data would significantly enhance national accounts estimates. Although formal agreements for sharing data among government agencies have been signed, in some cases the cooperation needs to be more effective. Very ambitious objectives combined with severe resource constraints at INSTAT complicate improvements in basic indicators. Currently, quarterly GDP estimates are released with a lag of 90 days and the first annual estimates are published around 15 months after year-end. Data are subject to large revisions and there are significant discrepancies between the aggregated quarterly estimates and the annual national accounts results, due to differences in compilation methods, and between the GDP compilation by the expenditure and by the production approach. In May 2018, INSTAT published the first two non-financial institutional sector accounts for the years 2013–2015. Labor statistics: The Labor Force Survey (LFS) is of insufficient quality. The treatment of agricultural employment needs to improve, as currently all individuals that own agricultural land are considered self-employed by the survey. Various shortcomings in the LFS lead to lack of reliable income and wage indicators. Poverty data are available with a substantial lag, compared to other CESEE countries. Price statistics: Compilation generally follows international standards. Since December 2015, INSTAT updates annually the CPI weights using the results of a new national Household Budget Survey. The PPI and construction cost indexes are published on a quarterly basis, due to resource constraints. |
|
| Government finance statistics: Fiscal source data are adequate to allow a broad presentation of the Albanian fiscal operations in line with the Government Finance Statistics Manual (GFSM)2014, but still does not cover the entire general government (some extrabudgetary units are not covered). Despite recent and ongoing efforts, accounts payable data continue to have some issues, with amounts included in the IMF program not being reconciled to values in the financial accounting records or in the STA GFS database. There has been good progress over the last 3 years, including a 6-year time series of comprehensive GFS data and a full balance sheet. Consistency across fiscal surveillance, GFS Yearbook, and other macroeconomic reporting is being improved. | |
| Monetary statistics: The monetary data compilation framework conforms to the methodology recommended in the Monetary and Financial Statistics Manual (MFSM) 2000. The survey of depository corporations covers the Bank of Albania (BoA) and all the other deposit-taking institutions (commercial banks and savings and loans associations, or SLAs). The accounts of the SLAs, with the exception of loans, are produced on a cash basis, which contrasts with the MFSM’s recommendation of accrual accounting. Another deviation from the MFSM’s methodology is that the BoA’s and commercial banks’ holdings of nontradable long-term securities are recorded at book value. | |
| External sector statistics: Balance of Payments and International Investment Position (IIP) data are compiled by the BoA with a time lag of less than 90 days and are methodologically sound. The adoption of recommendations from IMF technical assistance missions has improved the measurement of compensation of employees and remittances, facilitated compilation of quarterly IIP, currency composition data on debt assets and liabilities, and the Reserves Data Template. Albania also participates in the IMF’s Coordinated Portfolio Investment Survey (CPIS) and Coordinated Direct Investment Survey (CDIS). Challenges remain in the measurement of remittances, some financial account transactions outside the banking system, and foreign assistance (data on grants from abroad not channeled through the central government are fragmented and require consolidation). Improving grant coverage requires closer collaboration between the Donor Coordination Unit in the Office of the Prime Minister, the Ministry of Finance, and the Bank of Albania. The external debt database ensures timely and accurate reporting of external public debt (including commitments of state-owned enterprises). |
|
| II. Data Standards and Quality | |
| Albania participates in the Enhanced General Data Dissemination System (e-GDDS). The country published a National Summary Data Page in June 2017 at http://instat.gov.al:8080/NSDPAlbania/. | Data ROSC published in October 2006. |
Albania: Table of Common Indicators Required for Surveillance
(As of November 30, 2018)
Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should include short-term liabilities linked to a foreign currency but settled by other means, as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.
Both market-based and officially determined, including discount rates, money market rates, and rates on treasury bills, notes, and bonds.
Foreign, domestic bank, and domestic nonbank financing.
The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments. It also includes the explicit guarantees granted by the central government.
Includes currency and maturity composition.
Includes external gross financial asset and liability positions vis-à-vis nonresidents.
Daily (D), Weekly (W), Monthly (M), Quarterly (Q), Annual (A), Irregular (I), Not Available (NA).
Reflects the assessment provided in the data ROSC published on October 31, 2006, and based on the findings of the mission that took place March 8–22, 2006, for the dataset corresponding to the variable in each row. The assessment indicates whether international standards concerning concepts and definitions, scope, classification/sectorization, and basis for recording are fully observed (O), largely observed (LO), largely not observed (LNO), or not observed (NO).
Same as footnote 8, except referring to international standards concerning source data, assessment of source data, statistical techniques, assessment and validation of intermediate data and statistical outputs, and revision studies.
Albania: Table of Common Indicators Required for Surveillance
(As of November 30, 2018)
| Date of Latest Observation | Date Received | Frequency of Data7 | Frequency of Reporting7 | Frequency of Publication7 | Memo Items: | ||
|---|---|---|---|---|---|---|---|
| Data Quality – Methodological Soundness8 | Data Quality – Accuracy and Reliability9 | ||||||
| Exchange Rates | 12/19/18 | 12/19/18 | D | D | D | ||
| International Reserve Assets and Liabilities of the Monetary Authorities1 | 12/14/18 | 12/17/18 | D | W | M | ||
| Reserve/Base Money | 12/14/18 | 12/17/18 | D | D | D | O, O, O, LO | O, LO, LO, O, O |
| Broad Money | 12/14/18 | 12/17/18 | D | D | D | ||
| Central Bank Balance Sheet | 11/30/18 | 12/14/18 | M | M | M | ||
| Consolidated Balance Sheet of the Banking System | 11/30/18 | 12/14/18 | M | M | M | ||
| Interest Rates2 | 12/14/18 | 12/17/18 | D | D | D | ||
| Consumer Price Index | 11/18 | 12/8/18 | M | M | M | O, LO, O, LO | LO, LO, LO, O, O |
| Revenue, Expenditure, Balance, and Composition of Financing3 – General Government4 | 9/2018 | 10/30/18 | M | M | M | LO, O, O, O | LO, O, O, O, O |
| Revenue, Expenditure, Balance, and Composition of Financing3 – Central Government | 9/2018 | 10/30/18 | M | M | M | ||
| Stocks of Central Government and Central Government-Guaranteed Debt5 | 9/2018 | 10/31/18 | Q | Q | Q | ||
| External Current Account Balance | 2018:Q3 | 12/12/18 | Q | Q | Q | O, O, O, LO | LNO, O, LO, LO, O |
| Exports and Imports of Goods and Services | 11/18 | 12/10/18 | M | M | M | ||
| GDP/GNP | 2018:Q2 | 9/29/18 | Q | Q | Q | O, LNO, O, LO | LNO, O, LNO, LO, LO |
| Gross External Debt | 2018:Q3 | 12/10/18 | Q | Q | Q | ||
| International Investment position6 | Q2 2018 | 9/10/18 | Q | Q | Q | ||
Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should include short-term liabilities linked to a foreign currency but settled by other means, as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.
Both market-based and officially determined, including discount rates, money market rates, and rates on treasury bills, notes, and bonds.
Foreign, domestic bank, and domestic nonbank financing.
The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments. It also includes the explicit guarantees granted by the central government.
Includes currency and maturity composition.
Includes external gross financial asset and liability positions vis-à-vis nonresidents.
Daily (D), Weekly (W), Monthly (M), Quarterly (Q), Annual (A), Irregular (I), Not Available (NA).
Reflects the assessment provided in the data ROSC published on October 31, 2006, and based on the findings of the mission that took place March 8–22, 2006, for the dataset corresponding to the variable in each row. The assessment indicates whether international standards concerning concepts and definitions, scope, classification/sectorization, and basis for recording are fully observed (O), largely observed (LO), largely not observed (LNO), or not observed (NO).
Same as footnote 8, except referring to international standards concerning source data, assessment of source data, statistical techniques, assessment and validation of intermediate data and statistical outputs, and revision studies.
Albania: Table of Common Indicators Required for Surveillance
(As of November 30, 2018)
| Date of Latest Observation | Date Received | Frequency of Data7 | Frequency of Reporting7 | Frequency of Publication7 | Memo Items: | ||
|---|---|---|---|---|---|---|---|
| Data Quality – Methodological Soundness8 | Data Quality – Accuracy and Reliability9 | ||||||
| Exchange Rates | 12/19/18 | 12/19/18 | D | D | D | ||
| International Reserve Assets and Liabilities of the Monetary Authorities1 | 12/14/18 | 12/17/18 | D | W | M | ||
| Reserve/Base Money | 12/14/18 | 12/17/18 | D | D | D | O, O, O, LO | O, LO, LO, O, O |
| Broad Money | 12/14/18 | 12/17/18 | D | D | D | ||
| Central Bank Balance Sheet | 11/30/18 | 12/14/18 | M | M | M | ||
| Consolidated Balance Sheet of the Banking System | 11/30/18 | 12/14/18 | M | M | M | ||
| Interest Rates2 | 12/14/18 | 12/17/18 | D | D | D | ||
| Consumer Price Index | 11/18 | 12/8/18 | M | M | M | O, LO, O, LO | LO, LO, LO, O, O |
| Revenue, Expenditure, Balance, and Composition of Financing3 – General Government4 | 9/2018 | 10/30/18 | M | M | M | LO, O, O, O | LO, O, O, O, O |
| Revenue, Expenditure, Balance, and Composition of Financing3 – Central Government | 9/2018 | 10/30/18 | M | M | M | ||
| Stocks of Central Government and Central Government-Guaranteed Debt5 | 9/2018 | 10/31/18 | Q | Q | Q | ||
| External Current Account Balance | 2018:Q3 | 12/12/18 | Q | Q | Q | O, O, O, LO | LNO, O, LO, LO, O |
| Exports and Imports of Goods and Services | 11/18 | 12/10/18 | M | M | M | ||
| GDP/GNP | 2018:Q2 | 9/29/18 | Q | Q | Q | O, LNO, O, LO | LNO, O, LNO, LO, LO |
| Gross External Debt | 2018:Q3 | 12/10/18 | Q | Q | Q | ||
| International Investment position6 | Q2 2018 | 9/10/18 | Q | Q | Q | ||
Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should include short-term liabilities linked to a foreign currency but settled by other means, as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.
Both market-based and officially determined, including discount rates, money market rates, and rates on treasury bills, notes, and bonds.
Foreign, domestic bank, and domestic nonbank financing.
The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments. It also includes the explicit guarantees granted by the central government.
Includes currency and maturity composition.
Includes external gross financial asset and liability positions vis-à-vis nonresidents.
Daily (D), Weekly (W), Monthly (M), Quarterly (Q), Annual (A), Irregular (I), Not Available (NA).
Reflects the assessment provided in the data ROSC published on October 31, 2006, and based on the findings of the mission that took place March 8–22, 2006, for the dataset corresponding to the variable in each row. The assessment indicates whether international standards concerning concepts and definitions, scope, classification/sectorization, and basis for recording are fully observed (O), largely observed (LO), largely not observed (LNO), or not observed (NO).
Same as footnote 8, except referring to international standards concerning source data, assessment of source data, statistical techniques, assessment and validation of intermediate data and statistical outputs, and revision studies.
Relations with Other International Financial Organizations
As of November 30, 2018, Albania collaborates with the World Bank Group, the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), and the Council of Europe Development Bank. Further information can be obtained from the following hyperlinks.
https://www.worldbank.org/en/country/albania
https://www.ebrd.com/cs/Satellite?c=Page&cid=1395236446640&d=Mobile&pagename=EBRD%2F Page%2FCountry
http://www.eib.org/en/projects/regions/enlargement/the-western-balkans/albania/index.htm
Formerly PRGF.