PRESS RELEASE
Governor of the Bank of Albania, Mr Gent Sejko, on a telephone conversation with the Ambassador of the United States in the Republic of Albania, H.E. Ms. Yuri Kim

On 10 April 2020, Governor Gent Sejko had  a telephone conversation with the Ambassador of the United States of America in Albania, H.E. Ms. Yuri Kim. 

The conversation focused on the management of the situation created by COVID-19 pandemic and its impacts on both Albanian and global economy. 

During the conversation, the Governor stated that COVID-19 outbreak in Albania poses a challenge to economy and financial sector.  For this reason, the Bank of Albania has analysed the created situation and its possible effects on the economy of Albania. 

Governor Sejko presented Ambassador Yuri Kim with the regulatory measures undertaken by the Bank of Albania to help banks and their clients, through the easing of the operational activity procedures under the current conditions, for example: the easing of the accommodative policy stance, of the monetary and financial conditions, etc. 

Mr Sejko ensured Ambassador Kim that the Bank of Albania is ready to use all the necessary legal instruments which are available, in cooperation will all authorities in Albania, with the aim at overcoming this situation and establishing the premises for a rather rapid recovery of economy and for safeguarding: the macroeconomic parameters; the stability of prices; and the financial stability, at home. 

Also, Governor Sejko pointed out that the work of the Bank of Albania has been and will continue to focus on the further modernization of the payment systems - which play a crucial role in both financial education and inclusion of the population, also on the increase of further formalization of the economy, serving at the same time as an additional measure to prevent money laundering.

Then, Governor Sejko presented an overview of the banking sector in Albania, emphasizing that this system is well capitalised, solid and with  good liquidity and financial soundness indicators. In this regard, banking sector continues its normal activity and remains ready to provide all the needed contribution to counter and overcome this situation.

H.E. Ambassador Yuri Kim commended the role that the Bank of Albania and banking system have continuously played and the support they are providing to tackle this situation and minimise the possible effects arising from Covid-19 pandemic.

Also, Ambassador Kim by appreciating the very good relations between Albania and the United States of America,  extended her willingness to offer the necessary support and help in this situation, which will further strengthen the collaboration between our countries. 

At the end of the conversation, Governor Sejko by appreciating the United States of America as a very important strategic partner to Albania, thanked Ambassador Kim for the humanitarian aid  they have provided to our country in this situation and wished the Ambassador that the United State may overcome this situation quickly and with less consequences.