Post by dunki31 on Mar 3, 2024 3:35:52 GMT
In a 1-year period, the IMF has made several assessments of the economic and financial conditions of Albania, as well as addressed several issues brought to the attention of the Albanian Government. Nga Elivar Golemi* If we make a map of the most used words in each report, at first glance it seems that: In November 2019, before Albania faced two unilateral shocks, the earthquake and the Covid-19 pandemic, the attention of IMF experts was focused on fiscal policy issues. In the assessment of March 2020, the key word was economic stability, as found between two consecutive shocks, the economic contraction for Albania was estimated to be higher than in the countries of the region and the care should have been increased on the part of the Albanian authorities to manage the situation and the economic crisis.
Read also: China's economic challenges Cambodia WhatsApp Number Data and the high-level meeting in Beijing Confidence in the economy fell for the second consecutive month in February In April 2020, the IMF offers the loan of $190.5 million, as a financial support for the balance of payments, giving an emergency financial assistance to the Albanian state to cope with the effects of the pandemic. Of course, the headline of this report would be the now very familiar term for all of COVID-19. In November 2020, in the framework of monitoring the economic and financial conditions in Albania, after the provision of emergency financial assistance (First Post-Program Monitoring), the IMF does not seem to address only one specific indicator, but the increased risks as a whole, which can negatively affect the repayment capacity of the Albanian state. So the main word is now DANGER.
But let's look in more detail at the evaluations and recommendations that the IMF has addressed to the Albanian state over the course of a year, as well as their progress during this period. IMF statement on November 26, 2019. On the assessment of the economy before the earthquake of last November => General assessment: The economic growth of 2019 was negatively affected by the decline in electricity production, the economic situation of the main partner countries, as well as the uncertainty created by the political crisis in the country. The income per capita in Albania needs to increase significantly, the report emphasizes, as it remains at a critical level of 25% of the average income per capita of the EU. The lack of infrastructure and weak institutions prevent the improvement of living conditions in Albania.
Read also: China's economic challenges Cambodia WhatsApp Number Data and the high-level meeting in Beijing Confidence in the economy fell for the second consecutive month in February In April 2020, the IMF offers the loan of $190.5 million, as a financial support for the balance of payments, giving an emergency financial assistance to the Albanian state to cope with the effects of the pandemic. Of course, the headline of this report would be the now very familiar term for all of COVID-19. In November 2020, in the framework of monitoring the economic and financial conditions in Albania, after the provision of emergency financial assistance (First Post-Program Monitoring), the IMF does not seem to address only one specific indicator, but the increased risks as a whole, which can negatively affect the repayment capacity of the Albanian state. So the main word is now DANGER.
But let's look in more detail at the evaluations and recommendations that the IMF has addressed to the Albanian state over the course of a year, as well as their progress during this period. IMF statement on November 26, 2019. On the assessment of the economy before the earthquake of last November => General assessment: The economic growth of 2019 was negatively affected by the decline in electricity production, the economic situation of the main partner countries, as well as the uncertainty created by the political crisis in the country. The income per capita in Albania needs to increase significantly, the report emphasizes, as it remains at a critical level of 25% of the average income per capita of the EU. The lack of infrastructure and weak institutions prevent the improvement of living conditions in Albania.