Albania: IMF and Albania Start Talks on New Programme

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The International Monetary Fund has started preliminary discussions with Albania on a new funding program to support Albania`s economic development, stated the Finance Ministry.

Istvan Szekely, head of the IMF mission, started the first round of talks which are expected to last two weeks.

The IMF mission said it was pleased with Albania`s efforts to hold inflation down and to maintain stable growth, but encouraged the country to fight corruption and improve governance.

The current three-year, $42.7 million (€36 million) Poverty-Reduction and Growth Facility program, designed to help Albania to maintain macroeconomic stability and to accelerate structural reforms expires this month.

The IMF is expected to check Albania`s macroeconomic and other financial indicators on a six-month basis that would serve as the basis for the continuation of the program., 08.11.2005

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