Press Release
Governor Sejko meets IMF Regional Resident Representative for the Western Balkans, Mr Sebastian Sosa

On 6 February 2025, the Governor of the Bank of Albania, Mr Gent Sejko, and senior officials of the Bank held a work meeting with Mr Sebastian Sosa, Regional Resident Representative for the Western Balkans at the IMF.

At the beginning of this meeting, Governor Sejko presented Mr Sosa with an overview on the latest economic developments in Albania, mainly focusing on prices performance, developments in the financial and banking system, and expectations related to the economic indicators in the future. Governor Sejko stated that the Albanian economy has experienced a positive performance over 2024, where economic activity, employment and wages expanded at a stable pace. Inflation has been declining and remained at low rates, while economic and financial stability indicators improved. 

Regarding the monetary policy implemented by the Bank of Albania, the Governor highlighted that its approach has enabled to keep inflation under control without jeopardising the positive economic growth and the financial stability, in turn establishing the foundations for a sound growth of economy in Albania.  Meanwhile, the prospect of economic developments in the future remains positive and the economy is expected to grow at a stable pace, while inflation is expected to return to the Bank of Albania’s target, of 3%, in 2025.

Also, Governor Sejko introduced to Mr Sebastian Sosa, the Programme adopted recently by the Bank of Albania for the financing of micro, small and medium-sized businesses, aimed at establishing a financial instrument for commercial banks to be used in supporting improved access in loans.

Mr Sejko added, this programme is designed within the legal framework that regulates the activity of the Bank of Albania and the principles of the economy of market, and aims to improve the financing conditions of these businesses, with a special focus on those businesses that carry out their activity in agricultural sector.  Commercial banks that conduct their activity in Albania and are licensed, regulated and supervised by the Bank of Albania, will implement this Programme. In addition, the central bank has assessed that this programme serves to the long-term development of the country, establishing the preconditions for a better approach in lending to these businesses.

Mr Sebastian Sosa commended the work and the results achieved by the Bank of Albania to strengthening the monetary and financial stability of Albania. He pointed out the importance of inflation return to the target and stated the support regarding the measures undertaken by the Bank of Albania. In addition, the continuous monitoring of foreign exchange market by the Bank of Albania, without compromising its free regime, was also considered very important.

Next, Mr Sosa congratulated Governor Sejko regarding Albania's membership in the SEPA geographic scope, as an important historic moment in the country's journey towards European integration.

The interlocutors, Governor Sejko and the IMF’s representative, Mr Sosa, in conclusion, underscored the need and importance of advancing the collaboration between the two institutions and the technical assistance in the future.