1997 Albanian Civil War

1997 Albanian Civil War

Albania's economy was wrecked in the 1990s when 2/3rds of the population was lured into government-backed pyramid schemes which then failed. It is estimated that close to $1.5 billion was invested in companies offering monthly interest rates ranging from 10%-25%, while the average monthly income was around $80. A significant number of Albanians sold their homes to invest, and immigrants working in Greece and Italy transferred additional resources to the schemes. After the schemes fell through, the country was in chaos which led to 6 months of anarchy with disgruntled citizens, army deserters, and even mafia syndicates seizing control of much of the country.

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