PRESS RELEASE
Governor Sejko receives H.E. Mr. Marcos Alonso Alonso, New Ambassador of the Kingdom of Spain in Albania

On 10 December 2020, the Governor of the Bank of Albania, Mr Gent Sejko, received H.E. Mr. Marcos Alonso Alonso, the New Ambassador of the Kingdom of Spain in Albania,

Governor Sejko referred to Ambassador Alonso his thankfulness for the very good relationships between the two countries. The Governor extended his appreciation for Spain, as an important European partner, and in this context, the gratitude for the continuous support that Spain provides in the EU integration process of Albania.

At the beginning of the meeting, Governor Sejko presented Ambassador Alonso with an overview of the economic developments in Albania, focusing on the situation created by the Covid-19 pandemic.

The Governor stated that the pandemic has tested the resilience of both the Albanian economy and financial system. Nevertheless, thanks to the timely and well-coordinated measures and instruments taken by the Bank of Albania for supporting the financial activity and by the Government, it was succeeded to contain the adverse economic impact and preserve the monetary and financial stability.

More specifically, in response to the situation created, the Bank of Albania took immediate measures such are: lowering the policy rate and ramping up liquidity injections; temporary regulatory facilitation of payment deferrals and loan restructuring; freezing the dividend payments in the banking sector; as well as, forfeiting the fees on interbank transactions fees in the payment systems operated by BoA.

Regarding the financial and banking sector in Albania, Governor Sejko said, that this system remains solid, solvent and liquid. He highlighted that our financial markets are calm, both the interest and exchange rates are stable, and the flow of credit to economy is positive, thus affecting the mitigation of effects and the meeting of business’ financial needs. 

Ambassador Alonso commended the work of the Bank of Albania for safeguarding and guaranteeing the financial system in Albania, particularly in these difficult times, while pointing out the two difficult moments Albania is facing, the earthquake of 26th November and the Covid-19 pandemic. He added that the measures taken by the Bank of Albania have established the premises for a rapid recovery of the economy in the following period.

The Ambassador of Spain, H. E. Mr. Marcos Alonso Alonso, emphasised the importance of implementing the economic and structural reforms, which will drive to the enhancement of the economic collaboration with Spain, as a strategic partner, in the field of trade relations, and to the growth of foreign investments in Albania.

The interlocutors, in conclusion, shared the same views about the perspectives of advancing the cooperation between the Bank of Albania and the Bank of Spain, mainly in the field of the financial system.