Pamfleti International

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IMF sounds alarm, Rama and Ahmetaj caused Albania to be burdened with € 200 million in debt, 2.4 billion euros concessions for the oligarchs through PPPs

3 min read

Financial bodies are concerned about the economic collapse in Albania; they unearth the scams of the prime minister and the former Minister of Finance. Hidden and undeclared debts and concessions through the famous PPPs have perturbed the IMF, which has appealed for immediate measures. The IMF is asking Rama’s government to pay off overdue debts they have to the business as soon as possible, putting this phenomenon that damages the economy to an end. In the latest report on Albania, the IMF estimates that the state’s obligations to the private sector have reached € 200 million. The government had listed € 2.4 billion in concessional public-private partnership contracts signed or pending to be signed.The IMF is pushing Rama to immediately stop granting concessions without competition. This is apparently the last warning to the Albanian economy, and a “slap” for the “Painter”, our Prime Minister, who along with the “Tigre” in charge of finance, have brought Albania to the brink of bankruptcy, by deceiving with the economic growth, debt and PPPs.

 

The scams of Prime Minister Edi Rama and former Minister of Economy and Finance ArbenAhmetaj have just been unearthed, forewarning of a major downfall in the stability of Albanian finance in general.

Hidden and undeclared debts and concessions through the famous PPPs have perturbed the IMF, which has appealed for immediate measures.

IMF is asking Rama’s government to pay off overdue debts they have to the business as soon as possible, putting this phenomenon that damages the economy to an end.

In the latest report on Albania, the IMF estimates that the state’s obligations to the private sector have reached €200 million, out of which €140 million belong to the government and the rest are inherited obligations of the municipalities.

The statements published by the IMF show that most of these debts, about €90 million, are unreturned VAT for business. Fund experts highlight that these debts put the business into financial difficulties and damage all the economic activity.

But the Minister of Finance says the overdue debts are in control. According to her, the vast majority of these obligations belong to 3 companies that make large investments in Albania and are rescheduled in agreement with the companies to be settled under an agreed program.

Apart from unpaid debts, the other concern for state finances, also expressed by the board of the IMF executive directors, is the riskfrom concessions, which could undermine financial stability and debt reduction.

At the end of last year, the government had listed 2.4 billion euros in concessional public-private partnership contracts signed or in pending to be signed. IMF is pushing Rama to immediately cease granting concessions without competition and select only projects that are economically advantageous.

According to the report, overdue debts and concessions are the two most worrying internal risks. But the economy is also threatened by another external risk, which is the slowdown in the economic activity in the eurozone, particularly in Italy and Greece. The IMF warns that if the two main partners in Albania are to return to recession, then the Albania’s economic growth could fall below 2%.

 

This is apparently the last warning to the Albanian economy, and a “slap” for the “Painter”, our Prime Minister, who along with the “Tigre” in charge of finance, have brought Albania to the brink of bankruptcy, by deceiving with the economic growth, debt and PPPs.

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