PRESS RELEASE
Financial Sector Assessment Program of the International Monetary Fund and the World Bank

Following the request of the Ministry of Finance and Bank of Albania of 26 February 2013, the International Monetary Fund (IMF) and the World Bank (WB) will conduct a Financial Sector Assessment Program (FSAP) update. Through the FSAP assessment, the two important international institutions provide a comprehensive analysis on the financial sector stability of a country and the needs for further development.

The last FSAP assessment for Albania was made in 2005, and the upcoming planned exercise will be an update to the previous assessment. A planning mission of the FSAP will visit Tirana on 17-19 July to discuss with the Albanian authorities on the scope and the process. The main task of the FSAP will be carried out by another mission to Albania, scheduled during the period October - November 2013. After this mission, the IMF's staff will present its views from the FSAP in a report called the Financial Sector Stability Assessment (FSSA).

Besides this process, an expert mission of the IMF is expected to visit Tirana in September 2013. The aim of the visit is to assess the latest developments in the Albanian economy and discuss with the Albanian Government and the central bank on the future economic and financial policies. This visit will also be part of the economic surveillance by the IMF and will be followed by a mission in the framework of Article IV Consultations, towards the end of the year. The most important findings of Article IV and FSAP are incorporated in the IMF's staff report at the conclusion of consultations. The IMF's Staff Report for the 2012 Article IV consultation may be accessed in the following link: http://www.imf.org/external/pubs/ft/scr/2013/cr1307.pdf.