Debt Management Performance Assessment : Albania
From November 8 to 17, 2010, a World Bank team undertook a Debt Management Performance Assessment (DeMPA) mission to Tirana, Albania. The mission's objective was to prepare a comprehensive assessment of government debt management functions by...
Main Author: | |
---|---|
Format: | Economic & Sector Work |
Language: | English en_US |
Published: |
Washington, DC
2013
|
Subjects: | |
Online Access: | http://documents.worldbank.org/curated/en/2011/06/14989936/albania-debt-management-performance-assessment http://hdl.handle.net/10986/16230 |
Summary: | From November 8 to 17, 2010, a World
Bank team undertook a Debt Management Performance Assessment
(DeMPA) mission to Tirana, Albania. The mission's
objective was to prepare a comprehensive assessment of
government debt management functions by applying the DeMPA
methodology. This report presents the results of the
assessment, based on the December 2009 version of the DeMPA
tool. The assessment reveals that Albania meets the
requirements for the A score in eleven dimensions assessed
the B score in five dimensions, the C score in twelve
dimensions, and the D score in five dimensions. Of more than
50 countries assessed by the World Bank under the DeMPA
program so far, Albania stands out as one of the few which
has sound debt management practices in the largest number of
areas as defined by the DeMPA methodology. Albanian economy
is highly dependent on remittances. Sectors that rely on
remittances construction, wholesale and retail, and other
services together account for over 60 percent of the
country's Gross Domestic Product (GDP) and has been the
backbone of the country's strong growth. Large capital
inflows (remittances, official assistance, and some foreign
direct investment) have resulted in a steady appreciation of
the country's currency. The DeMPA focuses on central
government debt management activities and closely-related
functions, such as the issuance of loan guarantees,
on-lending, cash flow forecasting, and cash balance
management. Thus, the DeMPA does not assess the ability to
manage the wider public debt portfolio, including implicit
contingent liabilities. |
---|