Category Archives: Finance

IMF Executive Board Approves €330.9 Million loan for Albania

The Executive Board of the International Monetary Fund (IMF) on Friday approved a 36-month SDR 295.42 million (about €330.9 million, or about US$457.1 million; 492.4 percent of country’s quota in the Fund) arrangement under the Extended-Fund Facility (EFF) for Albania in support of the authorities’ reform program. The approval allows for immediate disbursement of SDR 23.55 million (about €26.4 million, or about US$36.4 million). The World Bank and the EU are also likely to provide assistance to the authorities’ reform program. Continue reading IMF Executive Board Approves €330.9 Million loan for Albania