Albania: 2008 Article IV Consultation, Fifth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Review Under Extended Arrangement, Financing Assurances Review, and Request for Modification of Performance Criteria:

2008 Article IV Consultation, Fifth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Review Under Extended Arrangement, Financing Assurances Review, and Request for Modification of Performance Criteria: Staff Report; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Albania

Author: International Monetary Fund

Volume/Issue: Volume 2008 Issue 267

Publication date: August 2008

ISBN: 9781451800920

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Topics covered in this book

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Banks and Banking , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , Taxation - General , ISCR , CR , authority , discussion of Albania , exchange rate , executive board's discussion , result , tax policy reform , Albanian authorities , supervisory regime , current account , Income , Tariffs , Global

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Republic of Congo : 2001 Article IV

Summary

This 2008 Article IV Consultation highlights that over the last decade, Albania’s macroeconomic performance has generally been strong and per capita GDP in U.S. dollar terms more than doubled. Strong fiscal policy, largely based on major improvements in tax administration, lowered public debt from 66 percent of GDP in 2001 to 53 percent in 2007. Risks to domestic and external stability have receded somewhat. Domestic credit growth, though still elevated, has decelerated from past highs. The authorities have adapted regulatory and supervisory regimes to keep abreast with the rapidly developing financial system.