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7th BANK OF ALBANIA CONFERENCE

MONETARY POLICY STRATEGIES FOR SMALL ECONOMIES

(BY INVITATION ONLY)

6 - 7 DECEMBER 2007
HOTEL TIRANA INTERNATIONAL, TIRANA

The Bank of Albania will organise its 7th Annual Conference titled "Monetary Policy Strategies for Small Economies" on December 6-7, 2007. Experts from central banks and international financial institutions, distinguished academics, representatives from the banking system and other Albanian institutions as well as many Albanian and foreign personalities will participate in this conference.

In the last decade there has been a quantum change in the perception of what monetary policy strategy should achieve. Although it is widely accepted that the main objective of the monetary policy should be the achievement and maintenance of price stability, it is less clear what type of monetary policy strategy a small country should adopt. The focus of the conference will be monetary policy strategies for small open economies which have to "live" in the shadow of Eurozone, part of which they will become in the long-run. The proceedings of this conference will particularly concentrate on the options, challenges and risks for the future of monetary policy in Albania.

The conference of this year has been conceived as a combination between the traditional annual conferences that the Bank of Albania organises every year and the roundtables that have been held during the last two years in Tirana concerning the strategy and future of monetary policy in Albania. The first day will be devoted to the international experiences on the monetary policy options for small open economies, where distinguished experts and academics will share with the participants the practical aspects of these experiences. During the second day, the Bank of Albania staff will present the progress made by the institution during 2007 with regard to the preparations on the adoption of the new monetary policy regime in the future.

At the end of the conference, the "Governor's Award for the Best Diploma" ceremony will be held, where the Governor of the Bank of Albania, Mr Ardian Fullani, will confer the respective awards to three students that have submitted the best diploma theses.