​​France supports Bank of Albania​

The Governor of the Bank of Albania, Gent Sejko paid a two-day working visit to the Bank of France on May 26-27. This visit is considered as very important in the frame of bilateral cooperation relations existing between the two central banks. During his stay in France, Sejko met with the Governor of the Bank of France, Francois Villeroi de Galhau and with other senior executives of this institution. The discussions focused mainly on the bilateral economic relations, on the progress of the Albanian banking system, promotion of Albania's potential and recent developments in the Euro zone. Governor Sejko informed his counterpart with the most recent economic and financial developments in Albania, underlining that regardless of the unfavorable international situation, Albania has registered positive progress regarding economic growth. The Bank of Albania has given the necessary contribution through facilitating monetary policy in support of a stable economic growth and guaranteeing macroeconomic stability of the country. During the meeting, both governors discussed the role and challenges that monetary policy faces today, in a situation of uncertainty and low inflation everywhere in the world and Europe and shared the opinion that the harmonization of macroeconomic policies influences on the acceleration of economic development of both countries. Speaking about developments in the banking sector, Sejko estimated the achievements and potential that this sector offers in Albania, with optimal parameters of financial indicators. BoA, in the role of supervisory and regulatory authority is making continuous efforts to approach banking legislation to the European one, as a precondition to create a suitable environment for the further development of this sector. On his part, the Governor Villeroi de Galhau praised the contribution and important role of the Bank of Albania in ensuring the macroeconomic and financial stability of the country. He underlined that the policies followed and measures taken by the Bank of Albania have influenced on the strengthening of institutional capacities and its integrity. In the quality of Member of the Governing Council of the European Central Bank, he assured Sejko that the Bank of France and member banks of the European System of Central Banks will continue to offer support to the Bank of Albania, to strengthen institutional capacities and to adopt international standards of central banking, until Albania becomes part of the European family. This cooperation may continue in areas like the convergence of legislation with European standards, solution of issues of problematic loans, governing of the central bank, etc.

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