Albanian Economy Your Business News from Albania

Saudi Arabia and Albania signs 25 Million USD loan agreement

Tirana, 25 June 2011 (albanianeconomy.com) Saudi Arabia fund for development had accepted to lend 25 million USD to the Government of Albania for the construction of a highway, the Ministry of Finance announced on Friday

IMF Urges Albania to Raise Taxes

Funds tells Albania to increase taxation and cut expenditures to close debt gap – but Tirana government does not appear to be listening.

Gjergj Erebara Tirana

Banks concerned over collateral execution difficulties

Tirana, 9 June 2011 (albanianeconomy.com) Association of Banks of Albania expressed publicly concern over the difficulties experienced by several banks in confiscating and liquidating the collateral of the underperforming loans, urging the government to facilitate the procedures.

Loan loss provisions cut earning of banks in Albania

Increasing nonperforming loans in Albania diminished the net earnings of the country’s banking system during the first quarter 2001 as loan loss provisions continued to raise, statistics published by the Central Bank shows.

Bank of Albania increases its interest rates amid inflation worries

The central Bank of Albania increased its main interest rates by 0.25 per cent to 5.25 on Wednesday citing growing inflation pressures. This is the first move of the interest rates since December 2009.

Bank profits in Albania jump by 89 per cent

Tirana, 21 February 2011 (AENEWS) – Banking industry in Albania managed to increase profits by 89 per cent during 2010 despite a strong deterioration in underperforming loans, data from Association of Banks shows

Albania to Emit €300 Million in Eurobonds

The Albanian Ministry of Finance has opened a tender for a bond management company in a bid to emit 300 million in euro denominated bonds.

IMF Delays Romania Funds Due to Political Instability

The International Monetary Fund, IMF, has delayed disbursing an aid tranche to Romania originally scheduled for next month and will resume talks on a standby loan agreement only when the country has a government.

EBRD: Albania’s Economy Slowing Down

Albanian economy experienced a good growth rate in the first half of this year, but in two remaining quarters growth will slow, projects the European Bank for Reconstruction and Development, EBRD.

EBRD Provides Loan to Leading Montenegrin Retailer

The European Bank for Reconstruction and Development, EBRD, is boosting competition in the Montenegrin retail sector by providing a €4.2 million loan to the country’s leading retailer Voli Trade.