PRESS RELEASE
The Governor of the Bank of Albania Mr Gent Sejko meets H.E. Ambassador of Romania to Albania, Mircea Perpelea

The Governor of the Bank of Albania, Mr Gent Sejko received today, on 18 November 2020, in an official meeting at the Bank of Albania, H.E. Mircea Perpelea, Ambassador of the Republic of Romania, on the occasion of the end of his mission in Albania.

The conversation focused on the management of the situation created by COVID-19 pandemic and its impacts on the economies of both countries and the global economy.

Governor Gent Sejko acquainted Ambassador Perpelea with the latest developments in the Albanian economy and the contribution of the Bank of Albania to support the economic activity in the country, which has been improving during the summer months, after the strong decline recorded in the second quarter. This recovery reflected the relaxing of social distancing measures and the support provided by the comprehensive fiscal, monetary and macro-prudential stimulus. 

More specifically, in response to the situation created, the Bank of Albania took immediate measures such as decreasing the policy interest rate and increasing liquidity injections; temporary regulatory facilitation in promoting instalment extension and loan restructuring; suspension of dividend payments in the banking sector; as well as, the removal of interbank transaction fees in our payment systems.

Regarding the banking sector, the Governor highlighted that this sector has continued its activity in a stable manner, despite the challenges posed by the pandemic situation in Albania. The sector has accommodated the needs of borrowers, by providing the temporary extension for credit instalments for clients and its entire restructuring. In addition, the banking sector has undertaken a part of the financial burden of the crisis.

After thanking Governor Sejko for the hospitality shown throughout his stay in Albania, Ambassador Perpelea stressed his country's support for the opening of Albania's accession negotiations with the European Union, and provided the necessary assistance in the framework of the European integration process.

Also, the Ambassador of Romania expressed the importance of the cooperation between the central banks of the two countries and offered the expertise of the National Bank of Romania for various fields of central banking, which has been a constant assistance to the Bank of Albania.

Furthermore, H. E. Perpelea praised the work done by the Bank of Albania in terms of maintaining and guaranteeing the financial system in the country, especially in these difficult times, with extreme measures and various uncertainties. He underlined that the measures taken by the Bank of Albania have aimed at mitigating the negative effects and creating the premises for a faster recovery of the economy in the coming period.

The Governor thanked in particular Ambassador Perpelea for his two very valuable books published in the Albanian language dedicated to Romanian-Albanian relations entitled: “Friendships through the ages: Romanian-Albanian community” and “Coming Home to Europe ... from the East”. The second book is dedicated to Romania's accession in the European Union and presents the realities of a transition, before and after the accession, expressed with economic arguments. These books help not only to strengthen bilateral relations, but also serve as a guide for Albania in the further steps of European integration.

The interlocutors, in conclusion, shared the same views about the perspectives of advancing the economic cooperation between the two countries, mainly in the field of the financial system, and the growth of foreign investments in Albania.