Debt Management Performance Assessment : Albania

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...

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Bibliographic Details
Main Author:	World Bank
Format:	Economic & Sector Work
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	AMOUNT OF CREDIT AMOUNT OF DEBT AUCTION AUCTION AMOUNT AUCTIONS BANK ACCOUNT BANK ACCOUNTS BANK BORROWING BANK FINANCING BANK LOAN BANK LOANS BANK MARKET BANKING SECTOR BASIS POINTS BENEFICIARY BID BIDS BORROWER BORROWING PLAN BUDGET DEFICIT BUDGET DEFICITS CAPITAL INFLOWS CAPITAL INVESTMENT CASH BALANCE CASH BALANCES CASH FLOW CASH FLOWS CASH MANAGEMENT CASH RESERVE CENTRAL BANK CENTRAL GOVERNMENT DEBT CHECKS COMMERCIAL BANKS COMMERCIAL BORROWING CONFLICT OF INTEREST CONFLICTS OF INTEREST CONTINGENT LIABILITIES CONTRACTUAL OBLIGATIONS CORPORATE PROFIT TAX COUPON CREDIT RATINGS CREDIT RISK CREDIT RISKS CREDITOR CREDITORS CURRENCY CURRENT ACCOUNT CURRENT ACCOUNT DEFICIT CURRENT ACCOUNT DEFICITS DATED GOVERNMENT SECURITIES DEALER MARKET DEBT DEBT DATA DEBT ISSUANCE DEBT MANAGEMENT DEBT MARKET DEVELOPMENT DEBT OUTSTANDING DEBT RATIO DEBT SERVICE DEBT SERVICE PAYMENTS DEBT SERVICING DEBT TRANSACTIONS DEBT-SERVICE DEBTOR DEBTOR REPORTING SYSTEM DEPOSITS DERIVATIVE DERIVATIVE CONTRACTS DERIVATIVES DEVELOPMENT BANK DISASTER RECOVERY DISBURSEMENT DISBURSEMENTS DOMESTIC BANKS DOMESTIC BORROWING DOMESTIC DEBT DOMESTIC DEBT MARKET DOMESTIC MARKET DURABLE ECONOMIC ACTIVITY EMPLOYER ENFORCEABILITY EQUIPMENT EUROBOND EXCHANGE RATE EXCHANGE RATES EXPENDITURE EXPENDITURES EXTENSION OF CREDIT EXTERNAL BORROWING EXTERNAL BORROWINGS EXTERNAL DEBT EXTERNAL FUNDING FINANCE COST FINANCIAL ANALYSIS FINANCIAL ASSISTANCE FINANCIAL CREDITS FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL MARKETS FINANCIAL OBLIGATIONS FINANCING OF INVESTMENT FISCAL DEFICITS FISCAL POLICIES FISCAL POLICY FIXED COUPONS FIXED INCOME FLOATING-RATE NOTES FOREIGN CURRENCY FOREIGN CURRENCY RISKS FOREIGN DIRECT INVESTMENT FOREIGN HOLDINGS FRAUD GOVERNMENT BANK GOVERNMENT BONDS GOVERNMENT BORROWING GOVERNMENT BORROWINGS GOVERNMENT DEBT GOVERNMENT GUARANTEES GOVERNMENT SECURITIES GUARANTEE FEES HIGH INTEREST RATE HOLDING HOLDINGS HOLDINGS OF GOVERNMENT SECURITIES HUMAN RESOURCE HUMAN RESOURCES HUMAN RIGHTS INCOME TAX INDIVIDUAL CREDITORS INFORMATION SHARING INSTRUMENT INSURANCE INTEREST PAYMENTS INTEREST RATE INTEREST RATE CHANGES INTEREST RATE RISK INTEREST RATES INTERNAL AUDIT INTERNAL AUDITS INTERNATIONAL FINANCIAL INSTITUTIONS INTERPOLATION INVENTORY INVESTMENT BANK INVESTMENT PROJECTS INVESTOR BASE ISSUANCE ISSUANCE OF TREASURY BILLS LEGAL FRAMEWORK LENDER LENDING AGREEMENTS LIMITED ACCESS LIQUIDITY LOAN LOAN AGREEMENT LOAN AGREEMENTS LOAN CONTRACT LOAN GUARANTEES LOCAL CURRENCY LOCAL GOVERNMENT MACROECONOMIC POLICIES MACROECONOMIC POLICY MACROECONOMIC STABILITY MACROECONOMIC VARIABLES MARKET BORROWING MARKET CONDITIONS MARKET DEVELOPMENT MARKET PARTICIPANT MARKET PARTICIPANTS MATURITIES MATURITY MONETARY POLICY NATURAL DISASTERS NOMINEE ACCOUNT OPEN-MARKET OPERATIONS OUTSTANDING DEBT PAYMENT ORDER PAYMENT ORDERS PENSION PENSION SYSTEM PENSIONS PERSONAL INCOME PORTFOLIO PORTFOLIO RISK PRICE STABILITY PRIMARY MARKET PUBLIC DEBT PUBLIC DEBT MANAGEMENT PUBLIC FINANCE PUBLIC INVESTMENT PUBLIC SECTOR DEBT PURCHASING POWER PURCHASING POWER PARITY RECESSION REGISTRY SYSTEM REMITTANCES REPAYMENT REPO REPO RATE RESERVE RESERVE FUND RETAIL INVESTORS RETURN RISK ASSESSMENTS RISK CONTROL RISK MANAGEMENT SECONDARY MARKET SECONDARY MARKET TRADING SETTLEMENT SETTLEMENT OF TRANSACTIONS SMALL BUSINESS SOCIAL DEVELOPMENT SOLVENCY STATE LOAN SUB-NATIONAL BORROWINGS T-BILLS T-BONDS TAX TAX COLLECTION TERM DEPOSIT TOTAL DEBT TRADING TRANSACTION TREASURY TREASURY BILLS TREASURY BONDS TREATIES TURNOVER UNIFORM-PRICE USE OF DERIVATIVES YIELD CURVE
Online Access:	http://documents.worldbank.org/curated/en/2011/06/14989936/albania-debt-management-performance-assessment http://hdl.handle.net/10986/16230

Description
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.