European Parliament Library

Albania :, Fourth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Review Under the Extended Arrangement, and Financing Assurances Review: Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Albania

The main challenges for this review were to further redress long-running problems in the energy sector and to balance fiscal policy requirements for development spending with macroeconomic stability. The financial position of the state-owned electricity company (KESH) deteriorated significantly more than anticipated. The authorities have adopted a two-pronged solution to the electricity crisis. The authorities are prioritizing the strengthening of regulation to assure financial stability in a rapidly maturing financial system. The proposed conditionality for the Fifth Review is consistent with program goals, and the program is fully financed
Table Of Contents
Cover; Contents; Glossary; I. Introduction; II. Performance Under the Program; III. Program Discussions; A. Economic Outlook; B. Electricity Sector; C. Fiscal Policy; D. Monetary and Financial Sector Policy; E. Other Structural Reforms; F. Program Issues; IV. Staff Appraisal; Box; 1. Power Sector Restructuring and KESH Performance, 1998-2008; Tables; 1. Status of Performance Criteria and Structural Benchmarks Under the PRGF and EFF Arrangements; 2. Basic Indicators and Macroeconomic Framework, 2003-12; 3a. Monetary Aggregates, 2003-12 (In percent of GDP)
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (82 p.)
Specific Material Designation
Form Of Item

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