PRESS RELEASE
IMF Completes Third Review Under PRGF with Albania, Approves US$5.9 Million Disbursement, and Grants Waiver

The Executive Board of the International Monetary Fund (IMF),on its meetingof January 23,2004, completed the third review of Albania's economic performance and the financing assurances review under Albania's Poverty Reduction and Growth Facility (PRGF) arrangement. In completing the review, the Board approved the disbursement of SDR 4 million (about US$5.9 million) to Albania. The Board further granted Albania's request for waiving the non-observance of a September 30, 2003 structural performance criterion, regarding measures to regularize arrears between public sector enterprises. In the meantime, these measures were implemented as a prior action for the completion of this review.

Full text of the IMF Press Release No 14/04.