New IMF Mission to Land in Tirana This Week
Albanian Daily News
Published June 14, 2016

An International Monetary Fund mission will arrive this week in Tirana and the focus of the visit is expected to be the assessment of public finances.

According to sources from the Ministry of Finance, the IMF team, during their stay in the capital, is expected to hold meetings with some of the Albanian authorities.

The agenda of the talks with the government includes discussions on macroeconomic developments, growth prospects and the current fiscal situation.

At the end of May this year the Executive Board of the International Monetary Fund (IMF) has published the conclusions of the seventh review of Albania's economic performance under the three-year program with the Albanian government. In its conclusions, the IMF assessed the performance of the Albanian economy and encouraged its ambitious reforms.

"Albania's economic recovery is accelerating. Medium-term prospects remain favorable, if the pace of reforms will continue," it was cited in the conclusions of the IMF. In the framework of the agreement signed in 2014 in the amount of SDR 295 .4 million, 7 tranches of SDR 139.3 have been provided so far.

"GDP growth is projected to reach 3.4 percent in 2016, and around 4 percent over the medium term, reflecting a recovery in private sector credit, continued FDI, and structural reforms, as Albania advances through the European Union accession process. Headline inflation is likely to remain subdued. The current account deficit is expected to widen and remain elevated as import-intensive investment picks up," said the IMF.

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