PRESS RELEASE
Governor Sejko meets with the Delegation of the United Kingdom

On 31 March 2022, the Governor of the Bank of Albania, Mr Gent Sejko, received at a special meeting a delegation from the Parliament of United Kingdom, which was accompanied by the Ambassador of the United Kingdom in Tirana, H. E. Mr Alastair King-Smith.

This delegation is a British parliamentary cross-party group that visits Albania in order to promote the relationship between the United Kingdom and Albania. It is led by MP Martin Vickers, who is delegated by the Prime Minister of Great Britain to oversee Commerce in the Western Balkans.

At the beginning of the meeting, Governor Sejko commended the Ambassador and the members of parliament of Great Britain for the amicable relations between the two countries and the support that the United Kingdom has provided to Albania in the process of the country's development.

Then, the Governor provided an overview of the economic and financial developments in Albania, and its future perspective. He identified the progress rendered by Albania during the period of transition, the success of facing the shock of the pandemic and earthquake, and the fast recovery that the Albanian economy registered over last year. In particular, he emphasized the positive role of public authorities which reacted swiftly, steadily, and effectively by employing the fiscal, monetary, and regulatory instruments.

In addition, the Governor analysed the impact of the shock caused by the upsurge in prices and the increasing global market uncertainty. Mr Sejko underlined that this shock would leave its scars on the economy in general and the economy of Albanian enterprises and households in particular. However, the Governor expressed his confidence that our economy will be able to withstand also this shock due to the solid foundations of economic and financial stability and the necessary measures provided by monetary instruments in a timely manner and at the right amount. The Governor reiterated the message that - in accordance with its legal mandate - the Bank of Albania will continue to undertake the necessary measures to safeguard the monetary and financial stability, as a precondition for a long-term, stable growth.

Concluding, Governor Sejko took a moment to talk about the positive economic development prospects of Albania. He highlighted the indispensable role of the integration process in the European Union, and the need for further structural reforms conducive to strengthening the potentials of development. Against this backdrop, Mr Sejko thanked the participants for the role of the international community in general and the United Kingdom in particular in our transition path, as they have provided support through financial funds, transfer of knowledge, and capacity building. 

The participants commended the Governor for the expose he provided and shared their confidence on the positive perspective of Albania’s development. Furthermore, they were interested on the possible ways and methods to strengthen the economic and trade exchanges. The participants concurred on the opinion that our country offers interesting perspectives of investments in the areas of financial industry, energy, and tourism. The guests assured that they will convey these messages to the public environment and private sector representatives in the United Kingdom.

After the meeting, the delegation visited the Museum of the Bank of Albania and were presented to the monetary history of our country. It is worth mentioning the early bilateral cooperation in issuing the Albanian banknote, since the first Albanian banknotes were produced in Great Britain and some others were designed by British artists.