PPP and concession liabilities: IMF warnings and current picture
Status: Ongoing program; no 2025 consolidated total found
Summary
The IMF's most specific figures on Albania's PPP program come from 2017-2018. By mid-2017 there were more than 200 PPP and concession contracts worth 505 billion lek (about 3.7 billion euros, roughly 36 percent of GDP). The IMF said a 'EUR 1 billion' program of nine new PPP projects (about 7 percent of GDP over four years) should be suspended until institutions improved, and that unsolicited proposals should stop. It also said deferred payments are economically equivalent to a loan and should be registered as public debt.
The more recent IMF statements (Article IV 2024 and 2025) are qualitative. They flag contingent liabilities as a risk needing a proactive response and say PPP assets are concentrated mainly in energy. The December 2025 press release, fetched directly, does not mention PPPs; its fiscal risks concern the 'fiscal peace' amnesty. The government has drafted a new concessions and PPP law with a Finance Ministry feasibility gate, and a 2026 budget line of about 120 million euros for PPP contracts was reported (headline only, not opened).
No official 2025 total for outstanding PPP liabilities was found. Without that number, any claim about how much public money depends on the current government's concessions cannot be made with confidence. The Finance Ministry's annual concessions and PPP report (for example the RVP series) is the place to look.
Key facts
- Mid-2017: more than 200 PPP contracts worth 505 billion lek (about 3.7 billion euros), roughly 36 percent of GDP (IMF via Tirana Times, 2018).
- IMF: nine new PPP projects costing about 1 billion euros (about 7 percent of GDP) over four years (IMF via Tirana Times, 2018).
- IMF: unpaid bills of 26.6 billion lek (209 million euros) at end-2017, about 1.7 percent of GDP; including them would lift debt to 71.8 percent of GDP for 2017 (IMF via Tirana Times, 2018).
- IMF: about 57 million dollars owed to Bankers Petroleum after an arbitration loss, not in the IMF baseline (IMF via Tirana Times, 2018).
- IMF Article IV 2025: public debt about 54 percent of GDP at end-2025, falling toward 50 percent by 2030 (mission statement, November 2025).
The record
Four lists kept apart on purpose: what is established, what is only alleged, what is still open, and what those concerned said.
What is proven (2)
Established by documents or official records, as stated in the research. A recorded charge or indictment proves only that the accusation was made.
- The IMF's 2018 figures (PPP stock, arrears, debt effect) as reported by Tirana Times.
- IMF 2024 and 2025 Article IV: contingent liabilities are a risk that needs a proactive response (mission statement, 2024; reported 2025).
What is alleged (1)
Accusations, not findings. Those accused are presumed innocent.
- AllegationConcessions and PPPs are used to shift cost off the budget and reward politically connected contractors (the broader thesis across earlier research files; not established by a single document).
Allegations and who made them (1)
Each line is an allegation as recorded, with the person or body that made it where the record names them.
- AllegationIMF (2018): PPP framework is 'poorly designed and lacks proper recording and risk analysis'.
Open questions (4)
- Outstanding PPP and concession liability total in euros for 2025-2026.
- Contract end dates for the largest concessions (highways, airports, ports, health).
- Whether the new concessions law has been passed and what it changes.
- How the Bankers Petroleum arbitration and the Thumane-Kashar concession appear in the current stock.
Responses (1)
Responses of the people and organisations concerned, as recorded.
- No government response to the 2018 IMF figures was found in this search.
Figures
Money trail →PPP and concession contracts, mid-2017 (IMF)
€3,700,000,000
505,000,000,000 lek
concessionSource label: Officially reportedStated definition: More than 200 contracts worth 505 billion lek, about 36 percent of GDP (IMF via Tirana Times, 2018). Stock figure at mid-2017, not 2025. Converted at the reported rate of about 3.7 billion euros.
Date: Jun 2017 · Payer: Albanian state · Payee: PPP and concession holders (various)
- IMF warns of PPP, unpaid bill risks to Albania's public finances (opens in a new tab)Tirana Times · May 2018 · journalism · EN
Nine new PPP projects (the 'EUR 1 billion' program), over four years
€1,000,000,000
concessionSource label: Officially reportedStated definition: About 1 billion euros, roughly 7 percent of GDP, over four years; IMF recommended suspension. Program may have changed since.
Date: 6 Mar 2018 · Payer: Albanian state · Payee: Private PPP partners (unnamed in source)
- IMF advises government to stop 1 billion EUR PPP agreements (opens in a new tab)Top Channel · 6 Mar 2018 · journalism · EN
Unpaid bills (arrears) end-2017
€209,000,000
26,600,000,000 lek
paymentSource label: Officially reportedStated definition: Central and local government arrears, about 1.7 percent of GDP. Not stated to be all PPP-related; Tirana Times says the IMF treats them as separate risks.
Date: Dec 2017 · Payer: Albanian state · Payee: Various creditors
- IMF warns of PPP, unpaid bill risks to Albania's public finances (opens in a new tab)Tirana Times · May 2018 · journalism · EN
Bankers Petroleum arbitration award owed by state (not in IMF baseline)
No amount recorded
lossSource label: Officially reportedStated definition: About 57 million US dollars per IMF as reported in 2018 (not converted). Shown in USD in the source.
Date: May 2018 · Payer: Albanian state · Payee: Bankers Petroleum
- IMF warns of PPP, unpaid bill risks to Albania's public finances (opens in a new tab)Tirana Times · May 2018 · journalism · EN
2026 budget line for PPP contracts (headline only)
€120,000,000
paymentSource label: UnverifiedStated definition: Shqiptarja headline: PPP contracts take 120 million euros from the 2026 budget, 40 percent of which goes to infrastructure concessions. Article not opened; check the 2026 budget law.
Date: 2026 · Payer: Albanian state · Payee: PPP contract holders
- Kontratat PPP marrin 120 mln euro nga buxheti 2026 (opens in a new tab)Shqiptarja.com · 2026 · journalism · SQ
Timeline
Full timeline →International
IMF advises suspending the EUR 1 billion PPP program
IMF (report, as reported by Top Channel) recommends suspending the PPP agreements in the 1 billion euro program, halting new PPPs until institutions are built, a formal priority list, a Finance Ministry cost-benefit unit, and an end to unsolicited bids.
International
IMF 2025 Article IV: debt on a path to about 50 percent of GDP by 2030; press release does not mention PPPs
IMF press release (23 Dec 2025) flags fiscal risks and the 'fiscal peace' amnesty. The November 2025 mission statement puts debt at about 54 percent of GDP at end-2025, easing to about 50 percent by 2030. The PPP section of the staff report was not reviewed.
Connections
Warnings on PPP fiscal risk (2018; 2024-2025 Article IV)
Evidence: IMF 2018 advice to suspend PPPs; 2024 mission flags contingent liabilities.
Sources for this record
Every source the research cites for this record, grouped by its source label. 6 sources.
Source label: Officially reportedOfficially reported · 5 sources
- Publisher
- Tirana Times
- Date
- May 2018
- Publisher
- Top Channel
- Date
- 6 Mar 2018
- Publisher
- IMF
- Date
- 24 Jan 2025
- Publisher
- IMF
- Date
- 23 Dec 2025
- Publisher
- IMF
- Date
- 19 Nov 2025
Source label: UnverifiedUnverified · 1 source
- Publisher
- Shqiptarja.com
- Date
- 2026