Governor Cani meets with the President of the Export - Import Bank, Mr.Philip Merryl

Publication date: 24.05.2004


The Governor of the Bank of Albania, Mr. Shkëlqim Cani, in the morning, had a meeting with a delegation of the well-known American bank, EXIM Bank, headed by its President, Mr. Philip Merill.

The chief topic of the discussions was the main developments of the Albanian economy, the progresses of the Bank of Albania, the climate for private investments and the role of banking system on its crediting, the financially supported projects by Exim - Bank in Albania, emigrants' remittances, etc.

"The Albanian economy, from macroeconomic aspect, has recorded positive developments and the private sector has played an important role in this process. The private sector has extended an irreplaceable contribution in succeeding at a positive economic increase throughout the recent years", stated Mr. Cani. On the other hand, continued the Governor, the Central Bank through its policies is tried to support the economic development and the progress of the private business, while commercial banks have considerably increased the lending to this sector at 30 - 50 per cent year in year out.

Mr. Merrill, who visits Albania for the first time, after assessing the work performed by the Bank of Albania and its evident successes, extended his interest on the standards that are implemented by the commercial banks and the Bank of Albania throughout the banking activity.

Mr. Cani stated that Bank of Albania, in general, implements the international standards of modern central banks and mainly of the European Central Bank toward which we aspire. The principals and standards that Bank of Albania implements are related with the aim to maintain price stability and the development of a banking system pursuant to the standards of modern banking, safe, stable and reliable one, etc

Related with the climate on private investments, being either domestic or foreign one in Albania, the Governor said that during the last years, notwithstanding the present problems that follow a country under the development, it is considerably improved the climate and infrastructure for private investments in Albania and in this aspect the support and positive "marketing" of the United States of America in Albania has an important role.

Mr. Cani, stated continuing, that the financial supported projects and the good name that Exim bank has in the international aspect, are significant on the positive performance of the Albanian economy and encourage the coming of foreign investors in Albania.

Emigrants' remittances, was the last issue of today's meeting. "Emigrants remittances, that in 2003 recorded USD 780 million, still remain important financial sources for Albania, which balance to some extent the deficit in trading goods and services. Regarding the way of transferring the money, the major part of it is transferred in "cash", and in the future the transfer through banking system will be one of the duties to be performed by the "Beyond money" program that will restart very soon", concluded the Governor Cani.