Albania faces staggering €2 bln threat in potential arbitration losses, leaked document unveils

TIRANA, Nov. 8 – At a time when Albania has already introduced its 2018 budget and fiscal package, a leaked confidential document showing that Albania faces the threat of being punished with a staggering €2 billion from a handful of arbitration cases with foreign companies has raised concern over the devastating effects it would have on the country’s public finances and one of Europe’s poorest economies. In a March 2017 letter to Prime Minister Edi Rama, then-Socialist Movement for Integration Justice Minister Petrit Vasili, says the ministry had been acquainted with confidential official information from the State Advocate’s Office that…