Nadeem Llahi, new IMF representative for Albania

TIRANA, June 28 – Nadeem Llahi has become the new IMF representative in Albania, replacing Gerwin Bell. In a meeting with Prime Minister Sali Berisha in Tirana last week, the new IMF representative for Albania said he was committed to continue cooperation with Albania and contribute to the stability of the Albanian economy and finances.
Prime Minister Sali Berisha said international financial institutions should show more attention to countries outside the Eurozone such as Albania.
“Albania established a well-capitalized private banking sector which is unfairly suffering the impacts of their mother banks in the Eurozone. Differently from the euro area, the Albanian private sector has performed successfully, maintaining jobs and moderately increasing them and bringing projects for the real economy.
Mr. Llahi has formerly served as deputy director of the IMF Middle East and Central Asia and IMF mission chief for Azerbaijan.
Citing severe spillover impacts from the Eurozone crisis and the top trade partners, Greece and Italy, the IMF has lowered its forecast for 2012 to only 0.5 percent which is the most pessimistic international financial institutions have made.