32 companies withold banks with 52% of bad loans
18/05/2015 00:00
Opposition demonstrators clash with the police in the protest in front of Tirana municipality, foreign embassies condemn acts of violence 19/04 16:00
Bad loans are one of the main reasons witholding our economy, but it
seems that this problem is not massive, but concentrated around a bunch
of businesses.
Recent statistics of the Bank of Albania show that more than half of bad loans comes from 35 companies.
The Bank says these companies make 52.16% of the total unreturned loans.
These groups owe 550 million USD to the system, turning into th main source of uncertainties in the financial system and the national economy.
Bad loans are seen as one of the main causes that are stopping the economy from recovering with a fast pace.
With the assistance of the IMF, the Albanian government has warned a new general plan for reducing bad loans, which includes a series of institutions but also the changing of some laws and procedures.
One of them requested with persistence by the IMF and the World Bank, is changing the bankruptcy law and make it more functional.
Sources from the Bank of Albania said for Top Channel that the treating of these companies will be one of the main points of the plan for resolving bad loans.
Will this solution help sending them to bankruptcy or to restructure those companies? Sources from the Bank say this will be more clear when the plan will be ready.
The Ministry of Finances and the Bank of Albania declared that they are determined to resolve once and for all the stalemate of problematic loans.
Top Channel
