This report covers the key macroeconomic and financial releases as well as the political events from Albania for the period of November 9 - December 10, 2015. Albania needs to finalise judiciary reforms to open EU accession talks Albania continues efforts to spur credit positive structural reforms - Moody's Nato head praises Albania’s role in Western Balkans stability IMF reaches staff-level agreement with Albania, new disbursement under the EFF arrangement possible in January Albania targets budget deficit of 2.2% of GDP in 2016 Albanian parliament rejects proposal for international investigation into CEZ deal Bankers Petroleum reaches deal to unfreeze its bank accounts in Albania Albanian opposition clashes with police on Dec 8 at protest aimed to topple government Key points: • The CPI inflation stays flat at 2.1% y/y in Nov • Albania's consolidated budget gap shrank by 43.1% y/y in Jan-Oct • Trade gap increased by 0.6% y/y to €1.7bn in the first ten months of 2015 • Albania’s commercial bank loan portfolio down 1.7% y/y at end-Oct • Albania's current account gap widened by 10.1% y/y in Q3 • Albania's gross external debt up 8.2% y/y at end Q3