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IMF – Albania, progress in maintaining stability and economic growth

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TIRANA, Feb 13 /ATA/ – Albania has made significant progress in reducing poverty, maintaining stability and developing the economy, the Deputy Managing Director of the International Monetary Fund (IMF), Tao Zhang, said in a press statement, concluding a two-day visit to Tirana on Wednesday.

“I took great pleasure in visiting Albania for the first time in my capacity as the IMF Deputy Managing Director. I saw a country that has made significant progress in reducing poverty, maintaining stability and developing the economy. This has been achieved thanks to substantial reforms implemented by Albania,” the senior IMF official said in his statement.

In talks with the Albanian authorities – he went on saying –“I emphasized that it is time for Albania to accelerate reforms when the global economy has entered a growth phase. This includes Europe where inflation and interest rates remain low. However, these favorable conditions of the external environment won’t last forever. So now it is time to undertake reforms and build stronger economic and financial defences.”

IMF official said that he and Albanian authorities discussed policies to boost Albania’s growth potential.

“Such policies include improvements in infrastructure, education and business climate and strengthening the rule of law in particular. Cutting public debt is a significant objective that can be achieved by strengthening management of the public finance and tax system,” he said.

e.xh/ /e.caushi/u.sh/

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