IMF allocates 53 million Euros for Albania

IMF allocates 53 million Euros for Albania

The second and third revision of the IMF agreement is approved

Tirana, February 23, 2015/Independent Balkan News Agency

The International Monetary Fund (IMF) Executive Board has approved the second and the third revision of the agreement entered with Albania last year.

This approval enables the immediate withdrawal of 47 mln SDR (around 53 mln Euros).

Albanian Ministry of Finance says that this Decision comes as a result of the serious engagement of Albanian authorities to move forward with important structural reforms such as the one in taxation, energy, pension and payment of arrears.

“Fiscal policies applied for the reduction of risks that come from the high level of public debt, provided premises for a favorable macro-economic framework, which enables the regeneration of the economy through growth and the opening of new jobs”, says the ministry of Finance. /ibna/