IMF Deputy Chief Executive Officer meets Albania’s Finance Minister
For the first time in the last 10 years, a representative of the IMF executive board visits Tirana. Deputy Chief Executive Officer Tao Zhang was received at a meeting by the Minister of Finance and Economy, Arben Ahmetaj.
Although the three-year program with the IMF has been closed, Minister Ahmetaj expressed the Albanian government’s commitment to continuing fiscal consolidation, reducing public debt and progressing structural reforms in the economy.
“We are convinced that without the continuation of reforms, there is no continuation of economic growth for the country. We have launched a new reform in the water supply sector while we are continuing to deepen the reform in the climate business, now deregulating and digitizing services for entrepreneurship and citizens, saving them time and money through facilitating the procedures, which we believe will be reflected in the business report,” Ahmetaj said.
Zhang assessed as successful the last IMF program, while congratulating the government for meeting the main objectives.
“The IMF is ready to continue its support, through technical assistance as well as minimizing risk potential. We support our member countries so that they understand their real capacities and grow in a balanced manner, in line with these capacities,” the IMF Deputy Executive Director said.
The meeting also discussed the “1 billion” for infrastructure projects through public-private partnerships.
The IMF has previously stated that these agreements may prove risky if proper enforcement capacities are not established.
Minister Ahmetaj said that the Albanian government is aware of the fiscal spaces and the PPP projects are foreseen in the medium-term budget plan.
Zhang stressed the IMF is ready to work with the Albanian government in support of private sector engagement and control of potential risks.
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