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TIRANA, Feb27 – The International Monetary Fund (IMF) has advised Albania to bring under control the “mad credit rise rate”, urging for strong measures to halt further increase in loans to private customers. IMF suggested that commercial banks, which have raised their loans portfolio to more than 56% in 2007, should be more prudent in offering high risk products such as customer loans. IMF has asked for Bank of Albania to exercises pressure toward commercial banks to increase their shareholder’s equity, to suspend advertising for loans as well as suspend investments for branch network enlargement.
