Bad loan solution by March
26/02/2016 15:35
Tear gas and water cannons amid the clashes in the DP opposition protest which ended after three hours in Tirana 26/11 21:13
The Bank of Albania will present in the next month the final solution
for the 35 companies that take the biggest among of bad loans in our
country. The news is made public in the understanding letter that the
Albanian authorities have sent to the IMF.
The official data show that the 35 companies in question have 52% of the total of bad loans. This means that these trade groups have 500 million USD of bad loans, turning into the main source of uncertainties in the financial system and national economy.
The process for identifying these companies starts with the request and the assistance of the IMF. The Bank of Albania, in cooperation with the private banks that have given them loans, has analyzed their balances and future perspective.
The plan that the Bank of Albania will present in the next month will give with details what companies will be allowed in the market and which will be taken for bankruptcy. Top Channel has learned that seven of these companies will be sent for bankruptcy, since they are considered as lost investments.
The companies in question have taken loans that mount up to hundreds of millions of euros in several banks. Their treatment is part of the plan between the government and the Bank of Albania for resolving the bad loan issue.
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