Legislative resolution embodying Parliament's opinion on the proposal for a Council Decision on providing macro- financial assistance to Albania (COM(98)0507 C4-0590/98 98/ 0273(CNS))(Consultation procedure)
Date: 1999-02-12
Institutions: Committee on External Economic Relations, European Parliament
Subjects: Albania, Community loan, balance of payments, economic reconstruction, financial aid, macroeconomics, reserves













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51999AP0041

Legislative resolution embodying Parliament's opinion on the proposal for a Council Decision on providing macro- financial assistance to Albania (COM(98)0507 C4-0590/98 98/ 0273(CNS))(Consultation procedure)  


Official Journal C 150 , 28/05/1999 P. 0618 





A4-0041/99Proposal for a Council Decision on providing macro-financial assistance to Albania (COM(98)0507 - C4-0590/98 - 98/0273(CNS))The proposal was approved with the following amendments:(Amendment 1)Recital 2a (new)>Original text>>Text following EP vote>Whereas Albania, which had been without a constitution since the fall of the communist regime, will have greater respect for human rights and strengthen the foundations of the rule of law as a result of the adoption of a new constitution on 22 November 1998;(Amendment 2)Recital 2b (new)>Original text>>Text following EP vote>Whereas Albania must not deviate from pursuing the fundamental political and economic reforms undertaken to establish the rule of law and a full and complete democracy and to introduce a market economy which takes account of the need for social justice and environmental protection;(Amendment 3)Recital 6>Original text>Whereas Albania is undertaking fundamental reforms to promote economic reform and build institutions with a strong implementation capacity; whereas the focus of reforms will be strongly centred on institution-building, on public administration and judicial reforms, on the development of a strong and performing banking sector, on the establishment of a functioning agricultural land market and accelerating enterprise privatisation; whereas the Government is firmly committed to a speedy winding up of the pyramid scheme companies and to combating corruption;>Text following EP vote>Whereas Albania is undertaking fundamental reforms to promote economic reform and build institutions with a strong implementation capacity; whereas the focus of reforms will be strongly centred on institution-building, on public administration and judicial reforms, on the development ofpublic finance structures and financial control procedures and a strong and performing banking sector strengthened by detailed legislation governing the prudential supervision of credit institutions, on the establishment of a functioning agricultural land market and accelerating enterprise privatisation; whereas the Government is firmly committed to modernising customs services on the basis of new codes, to a speedy winding up of the pyramid scheme companies and to combating corruption and organised crime which jeopardise political stability and economic order;(Amendment 4)Recital 6a (new)>Original text>>Text following EP vote>Whereas the restoration of security and of law and order throughout the country remains an essential precondition for private economic activities and foreign investment;(Amendment 5)Recital 8a (new)>Original text>>Text following EP vote>Whereas, by supporting the process of institutional and structural reform in Albania, the assistance should also have the effect of facilitating the solution of the country's social and political problems;(Amendment 7)Recital 9a (new)>Original text>>Text following EP vote>Whereas Albania has suffered much social and economic damage on account of developments in Kosovo and other parts of the former Republic of Yugoslavia and therefore urgently needs financial assistance; whereas before any payment of macrofinancial assistance, however, the conditions for Albania's economic and institutional policy must be assessed;(Amendment 8)Recital 10>Original text>Whereas the Community loan should be managed by the Commission;>Text following EP vote>WhereasArticle 107 of the Financial Regulation gives the Commission responsibility for ensuring that external aid is used properly; whereas the Community loan should therefore be managed by the Commission;(Amendment 9)Recital 10a (new)>Original text>>Text following EP vote>Whereas the Commission shall make the disbursement of the two instalments conditional upon verification of the rapid liquidation of the remaining pyramid scheme companies, and implementation of the newly adopted organic budget law; whereas the Commission shall also examine, before any disbursement, the situation as regards the approval of the new Customs Code, the consolidation of customs and tax revenue collection and the modernisation of customs services;(Amendment 10)Article 2(2)>Original text>2. The Commission shall verify at regular intervals, in collaboration with the Monetary Committee and in coordination with the IMF, that the economic and institutional policy in Albania is in accordance with the objectives of this macro-financial assistance and that its conditions are being fulfilled.>Text following EP vote>2.The Commission shall verify at regular intervals, in collaboration with the Monetary Committee and in coordination with the IMF and the Phare Committee, that the economic and institutional policy in Albania is in accordance with the objectives of this macro-financial assistance and the principles of sound and efficient management and that its conditions are being fulfilled.(Amendment 11)Article 2(2a) (new)>Original text>>Text following EP vote>2a. The Commission shall inform the European Parliament on the economic and institutional policy conditions attached to the loan and agreed with the Albanian authorities according to paragraph 1; it shall also inform Parliament about the results of the verifications carried out pursuant to paragraph 2.(Amendment 12)Article 3(2)>Original text>2. Subject to the provisions of Article 2, the second instalment shall be released on the basis of a satisfactory track record in the implementation of the ESAF programme and not before one quarter after the disbursement of the first instalment.>Text following EP vote>2.Subject to the provisions of Article 2, the second instalment shall be released on the basis of a satisfactory track record in the implementation of the necessary political and institutional reforms and of the ESAF programme and not before one quarter after the disbursement of the first instalment.(Amendment 14)Article 3(2a) (new)>Original text>>Text following EP vote>2a. The Commission shall inform the European Parliament prior to the disbursement of the second instalment of the macro-financial assistance.(Amendment 13)Article 4(5)>Original text>5. The Monetary Committee shall be kept informed of developments in the operations referred to in paragraphs 2 and 3 at least once a year.>Text following EP vote>5.The European Parliament and the Monetary and the PHARE Committees shall be kept informed of developments in the operations referred to in paragraphs 2 and 3 at least once a year.Legislative resolution embodying Parliament's opinion on the proposal for a Council Decision on providing macro-financial assistance to Albania (COM(98)0507 - C4-0590/98 - 98/0273(CNS))(Consultation procedure)The European Parliament,- having regard to the Commission proposal to the Council, COM(98)0507 - 98/0273(CNS) ((OJ C 302, 1.10.1998, p. 5.)),- having been consulted by the Council pursuant to Article 235 of the EC Treaty (C4-0590/98),- having regard to Rule 58 of its Rules of Procedure,- having regard to the report of the Committee on External Economic Relations and the opinions of the Committee on Foreign Affairs, Security and Defence Policy and the Committee on Budgets (A4-0041/99),1. Approves the Commission proposal, subject to Parliament's amendments;2. Calls on the Commission to alter its proposal accordingly, pursuant to Article 189a(2) of the EC Treaty;3. Asks to be consulted again should the Council intend to make substantial modifications to the Commission proposal;4. Instructs its President to forward this opinion to the Council and Commission.