Annual Conference of the Bank of Albania: ''Do crises change economic fundamentals in SEE?''

Publication date: 30.10.2015


The Bank of Albania organised on 30 October 2015 in cooperation with the South East European Studies at Oxford, the annual conference: 'Do crises change economic fundamentals in SEE?"

The conference was attended by H.E. Edi Rama, the Prime Minister of the Republic of Albania, Mr Bedri Hamza, Governor of the Central Bank of the Republic of Kosovo, ambassadors in Albania, representatives from international financial institutions, such as: International Monetary Fund and World Bank, representatives from the academia, the banking and financial system, media and the Bank of Albania's staff. This conference was organised in the framework of the Co-operation Agreement between the Bank of Albania and the University of Oxford singed in 2010.

Addresses by H.E. Edi Rama, Prime Minister of the Republic of Albania, Mr Gent Sejko,
Governor of the Bank of Albania, and Mr Othon Anastasakis, Director of South East European Studies at University of Oxford preceded the three sessions of the conference.

In the first session, participants discussed on the effectiveness of monetary and fiscal policy, structural changes and risks to economy and financial systems, challenges and future strategic policies in emerging and South Easter European countries.

In the second session, discussions focused on impacts of crisis on the macroeconomic and financial balance, and analysed the effectiveness of implemented economic policies in the economies of these countries. 

The third session took place in the form of a discussing panel. Representatives from the central banks shared their opinions on the recent regional economic developments and the challenges facing these economies to become more attractive to foreign investments. Some 160 participants attended the conference.

In his speech, Governor Sejko provided an overview of the macroeconomic developments in Albania, pointing out that the Albanian economy has maintained a positive trajectory, albeit the recorded economic growth was under its potential. He highlighted that the Bank of Albania will provide all its contribution to guarantee stable economic growth and inflation within the target range. Bank of Albania is implementing an accommodative monetary policy, and is paying special attention to the reform in the financial and banking supervision sectors. The legislative and regulatory changes undertaken in cooperation with the Parliament, the Government and other relevant institutions to boost lending in Albania, are particularly important in this regard. Concluding, Governor Sejko emphasised the importance of structural reforms in the economic growth of Albania. "Similarly to the rest of South East Europe, Albania needs a new path, in which investors will be able to see again profit opportunities', Governor Sejko said.

During his visit in Tirana, the Director of South East European Studies at the University of Oxford, Mr Othon Anastasakis, delivered a lecture to the students of excellence of the Economics Faculty of the University of Tirana. The Governor of the Bank of Albania, Mr Gent Sejko, the Rector of the University of Tirana, at the same time member of Supervisory Council of the Bank of Albania, Prof. Dr. Dhori Kule, representatives from the Bank of Albania and the academic staff of the University of Tirana were also present in the lecture.