PRESS RELEASE
Governor Sejko receives the new French Ambassador in Tirana

On 9 October 2017, the Governor of the Bank of Albania, Mr Gent Sejko received H.E. Ambassador of French Republic in Tirana, Ms Christina Vasak, in a first official meeting at the Bank of Albania. Governor Sejko extended his appreciation to H.E. Ambassador Vasak for the close and excellent cooperation between our countries.

While introducing an overview of economic developments in Albania, he underscored that the accommodative monetary policy pursued by the Bank of Albania has positively affected the economic development trajectory, consumer price stability, and the financial stability of Albania.

Governor Sejko informed Ambassador Vasak on the financial developments in Albania, focusing in particular on the banking sector, underlined that the financial system is characterised by adequate capitalisation and liquidity. Referring to the overall landscape of the banking sector, the Governor pointed out to the improvement of the ratio of non-performing loans, attributable to the inter-institutional action plan, whose effects have contributed to the fall in the NPL ratio, to the lowest level since 2011.

The interlocutors discussed about the bilateral economic relations and the importance of promoting Albania's potential. In this context, they highlighted the importance of French foreign investments in Albania, the potential for further growth in trade exchanges, and strengthening the cooperation in strategic sectors such as industry, agriculture, and tourism.

Governor Sejko referred to Ambassador Vasak his thankfulness for the fruitful cooperation between the Bank of Albania and the Bank of France, especially for its assistance in a number of joint projects in various areas in the activity of the Bank of Albania.

Ambassador Vasak commended the important role of the Bank of Albania in the European integration process, through its contribution to the approximation of the regulatory framework to EU standards. The interlocutors concurred on the fact that the continuation of structural reforms, especially in the judiciary, is very important. Such reforms would contribute to further improving the business climate and accelerating economic development.

The Ambassador of the Republic of France in Tirana, H.E. Ambassador Christina Vasak, thanked the Governor of the Bank of Albania, Mr Gent Sejko, for the meeting and appraised the substantial contribution of the Bank of Albania in safeguarding Albania's macroeconomic stability.