History of post-Communist Albania
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In 1992 the Democratic Party of Albania took control of the country through democratic elections, deposing the Communist Party of Albania. Since 1992 Albania has been seeking a closer relationship with the West. What followed were deliberate programs of economic and democratic reform, but Albanian inexperience with capitalism led to the proliferation of pyramid schemes - which were not banned due to the corruption of the government. Anarchy in late 1996 to early 1997, as a result of the collapse of these pyramid schemes, alarmed the world and prompted the influx of international peacekeeping forces.
In 1995, Albania was accepted into the Council of Europe and requested membership in NATO. The workforce of Albania has continued to emigrate to Western countries, especially Greece and Italy.
In the 1997 unrest in Albania the general elections of June 1997 brought the Socialists and their allies to power. President Berisha resigned from his post, and Socialists elected Rexhep Meidani as president of Albania. Albanian Socialist Party Chairman Fatos Nano was elected Prime Minister, a post which he held until October 1998, when he resigned as a result of the tense situation created in the country after the assassination of Azem Hajdari, a prominent leader of the Democratic Party. Pandeli Majko was then elected Prime Minister, and he served in this post until November 1999, when he was replaced by Ilir Meta. Albania approved its constitution through a popular referendum which was held in November 1998, but which was boycotted by the opposition. The general local elections of October 2000 marked the loss of control of the Democrats over the local governments and a victory for the Socialists.
Although Albania has made strides toward democratic reform and maintaining the rule of law, serious deficiencies in the electoral code remain to be addressed, as demonstrated in the June 2001 parliamentary elections. International observers judged the 2001 elections to be acceptable, but the Union for Victory Coalition, the second-largest vote recipient, disputed the results and boycotted parliament until January 31, 2002. The Socialists re-elected Ilir Meta as Prime Minister in August 2001, a post which he held till February 2002, when he resigned due to party infighting. Pandeli Majko was re-elected Prime Minister in February 2002.
Despite the political situation, the economy of Albania grew at an estimated 5% in 2007. The Albanian lek has strengthened from 143 lekë to the US dollar in 2000 to 92 lekë in 2007.
