PRESS RELEASE
On the visit of the Governor of the Central Bank of Luxembourg, Mr. Yves Mersch at the Bank of Albania

At the invitation of the Governor of the Bank of Albania, Mr. Ardian Fullani, the Governor of the Central Bank of Luxemburg, Mr. Yves Mersch paid an official visit to the Bank of Albania, on Thursday 26 March, 2009.

This meeting took place in the framework of increasing and extending the cooperation in the economic and banking field between the two countries. Consequently, the discussion of the macroeconomic developments occurring in the economies of both countries and in the international level was the focus of this visit.

Governor Fullani introduced to his homologue the efforts of the Bank of Albania for the preservation of the domestic financial stability and the measures taken as regards to the global financial crisis. The philosophy for the orientation of the banking system toward the development of the sound financial activities was the centre of these endeavours.

Governor Mersch assessed the work performed by the Bank of Albania, which due to its implemented prudential policies has contributed to the maintenance of the country financial stability, thus establishing the needed spaces for a stable economic growth.

The deepening of the forthcoming institutional collaboration in the fields of monetary policy, monetary operations, financial stability and the communication with public covered a special place in this meeting.

At the conclusion of the meeting, Governor Mersch held a lecture with the staff of the Bank of Albania on 'The origins of the crisis and the role of central banks'.