The Albanian Government might take back another strategic company that was given in concession. Even this time, its privatization resulted in a huge financial failure. Same as CEZ, the Energy Corporation, now ARMO, the oil company, is in a very deep financial crisis.
Although it enjoys the status of a strategic sector, ARMO is in the bring of collapse. The company has interrupted its activity and has not paid its employees for the past six months. It has also turned into a hot potato for massive debts. The company has more than 470 million USD of debts, 220 million of which are owed to the Tax Office while the rest to third parties, especially banks. The bigger exposure to banks makes the situation even more delicate.
Opposition Leader Lulzim Basha Comments Visit to USA “I return with this message, which is not just a message of encouragement, but also one that removes the hopes of Albanian...
Economic Recovery Underway, Reforms Should Be Accelerated The program remains broadly on track and the IMF mission and the authorities have reached staff level agreement...
TIRANA – President Nishani signed a decree to reduce the sentence for a woman, Nazime Visha, who was convicted of “Murder” and “Illegal possession of a weapon.” Local...
Reform, including judicial reform, is important and critical if Albania is to take the next step forward. The FBI and EU are going to play a major role in helping Albania along that...
|
||||||
|
||||||
 |
 |
 |
 |
 |
 |
 |