PRESS RELEASE
Governor Sejko receives the Swiss Ambassador, H.E. Ms Ruth Huber

On 24 October 2022, the Governor of the Bank of Albania, Mr Gent Sejko, received the newly appointed H.E. Ambassador of Switzerland in Albania, Ms. Ruth Huber.

At the beginning of the meeting, Governor Sejko referred to Ambassador Huber and the Swiss state his thankfulness for the support and the  sucesfull collaboration  between the  countries, and stated his positive assessments about the projects and activities organised in the framework  of this cooperation.

During this meeting, Governor Sejko presented Ambassador Huber with an overview of the economic developments in Albania and emphasised that the economic growth in this period of time appears challenging. The soaring prices in global markets, the expected slowdown in the euro area economy, and the reduced purchasing power of consumers, will affect the the peroformance of inflation and economic developments in Albania. He highlighted that the rapid upsurge in prices have heightened uncertainties in, and have  triggred new supply chain bottlenecks.

The Ambassador of Switzerland in Albania, Ms Ruth Huber commented the good work of the Bank of Albania, in terms of safeguarding the financial stability in Albania, especially during these tough times.

Next, the Governor added that the cooperation with the Swiss Secretariat for Economic Affairs (SECO) and the Bilateral Assistance and Capacity Building Program for central banks (BCC)* has provided an important an important contribution in supporting the research activity of the Bank of Albania.In this regard, Governor Sejko praised the work done with SECO in terms of perfection and institutionalization of research agenda amd implementation of research work in central banks.

The Swiss Ambassador, H.E Ms Ruth Huber expressed the willingness to continue the n central banks’ support program and in Albania, as part of the BCC program of SECO.

The support for the Bank of Albania has continued through a large number of initiatives and activities related to important technical cooperation projects in various areas of central banking in the framework this program.

She added that the achieved positive results and the high absorbing skills shown by the Bank of Abania are a solid foundation and promoter for the continuation of joint development projects.

The Ambassador also highlighted the progres Albania has made in the framework of the integration proccess in the European Union, and expressed the Swiss full support in this regard.

The two interlocutors discussed also about the future cooperation and the possibilities for undertaking new projects, in key areas of the Bank of Albania’ activity.

*[1] The BCC Programme provides technical assistance to central banks of emerging economies. Financed by the State Secretariat for Economic Affairs (SECO) and adopted by the Graduate Institute in Geneva. The BCC Programme aims to support partner central banks in emerging economies to establish the analytical and technical expertise to conduct effective monetary policies, promote stability and efficiency in the financial market, as well as provide more operative stability.