Albania:First Post-Program Monitoring-Press Release; Staff Report; and Statement by the Executive Director for Albania

First Post-Program Monitoring-Press Release; Staff Report; and Statement by the Executive Director for Albania

Volume/Issue: Volume 2020 Issue 309

Publication date: November 2020

ISBN: 9781513562582

$18.00

Add to Cart by clicking price of the language and format you'd like to purchase

Available Languages and Formats


English

Prices in red indicate formats that are not yet available but are forthcoming.

Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Exports and Imports , Money and Monetary Policy , Public Finance , ISCR , CR , test positivity rate , staff appraisal , test rate , night curfew , BoA stress-test , COVID-19 , Budget planning and preparation , Europe

Also of interest

Grenada

Peru

Nepal

Republic of Congo : 2001 Article IV

Summary

Albania continues to be severely affected by the aftermath of the November 2019 earthquake and the COVID-19 pandemic. The authorities responded promptly to the shocks, and macroeconomic and financial stability have so far been maintained. The economy is expected to contract sharply in 2020, followed by a gradual recovery in 2021-22. The outlook is subject to major uncertainty and rising downside risks as a second wave is gripping many countries in Europe. Albania’s capacity to repay the Fund is adequate, but risks have risen in light of the shocks. Aside from a more severe pandemic, key risks stem from elevated public deficits and debt, weaknesses in public finances, and a relatively high level of non-performing loans (NPLs) and euroization.