Albania

This paper discusses key findings of the Sixth Review Under the Extended Arrangement Under the Poverty Reduction and Growth Facility (PRGF) for Albania. The macroeconomic performance of the Albanian economy has been good overall, with sustained growth and low inflation. Weak infrastructure and institutions, however, hold back export performance, and the economy remains dependent on migrant remittances to finance a large trade deficit. The 2005 macroeconomic outlook remains at 6 percent growth and about 3 percent inflation.Announcements;Economic growth;Economic indicators;Economic reforms;Extended arrangement reviews;Financial sector;Performance criteria waivers;Poverty Reduction and Growth Facility;Staff Reports;debt, external debt, interest, public debt, loans, payments, debt service, liabilities, domestic debt, current account, obligations, creditors, taxpayers, domestic borrowing, treasury bills, debt rescheduling, public and publicly guaranteed, external debt service, balance of payments, domestic currency, reserve assets, private creditors, expenditures, debt management, debt reduction, public and publicly guaranteed debt, taxes, credit expansion, total external debt, restructuring, public finance, tax revenues, commercial debt, central bank, debt sustainability, repayment, foreign debt, current account deficit, debt stock, current account balance, external payments, external financing, repayments, loan disbursements, public expenditure, foreign borrowing, external payments arrears, debt database, public external debt, debt forgiveness, domestic financing, local taxes, publicly-guaranteed, government debt, long-term debt, external borrowing, collections, debt burden, payment arrears, external public debt, long-term loans, ppg debt, debt service to exports, external indebtedness, external debt database, direct loans, official creditors, credit unions, public sector debt, external debt statistics, commercial borrowing, debt obligations, private credit, external liabilities, foreign loans, commercial loans, amortization payments, debt data, repurchases, external payment, external debt data, payment agreements, general resources account, budgetary resources, private external debt, suppliers ? credits, long-term external debt, debts, export credit, private sector creditors, domestic savings, bilateral loans, debt sustainability analyses, external debt stock, public finances, bilateral donors, debt consolidation, fiscal policy, debt statistics, multilateral loans, access to credit, government guarantee, external debt obligations, consumer credit, debt service obligations, budget systems, external disbursements, investment lending