Financial plan for Balkan
12/10/2012 00:00
Linda Rama: Between Family, Work and Albania’s Future 18/08 14:30
The fear over a possible spread of the Greek crisis in the poor
economies of western Balkans has preoccupied the heads of the highest
international financial institutions.
The prestigious “The Times” writes that heads of institutions including the World Bank, the International Monetary Fund, the European Bank for Reconstruction and Development and the European Investment Bank are due to meet on Sunday in Tokyo amid fears about the impact of the euro crisis on countries such as Romania, Albania, Slovenia, Serbia and Macedonia.
The title of the news report on The Times is “financial big guns to support Europe’s exposed south east”, and its goal is to stop these countries from entering a deeper recession.
The Times quotes the EBRD economist Erik Berglof, who says that the plan will be a great effort coordinated to help these countries that are more exposed to the Greek crisis.
Berglof says that many of them are in urgent needs. The plan that will be discussed foresees aid for the banks and governments of these countries. The first signs of a bigger commitment for the loans have been given even officially. A few days ago, Jane Armitage, the Director of the World Bank for South-eastern Europe declared on an interview for Top Channel that the bank will double the funds for Albania in the next four years, in order to help the economy face the crisis.
Top Channel
