PRESS RELEASE
Governor Sejko attends the High-level Conference "Reaccelerating Convergence in Central Eastern and Southeastern Europe - The Role of Governance and Institutions"

On 10-11 May 2017, the Governor of the Bank of Albania, Mr Gent Sejko attended the High-level Conference 'Reaccelerating Convergence in Central Eastern and Southeastern Europe - The Role of Governance and Institutions', jointly organised by the Croatian National Bank (HNB) and the International Monetary Fund (IMF), in Dubrovnik, Croatia. In addition to senior representatives of the IMF, the conference was attended by 30 central bank governors and ministers of finance from Central, Eastern, and Southeastern Europe's (CESEE) countries and representative from European Commission, European Bank for Reconstruction and Development, European Investment Bank as well as representatives from other financial institutions and academia.

The issues addressed in this Conference, among others, focused on: Where does the convergence process stand nowadays; which is the role of investment, demographics, and productivity; what are the prospects for convergence in the context of living standards in CESEE countries; what are the prospects for convergence in the context of mediocre global growth and long-term headwinds; and, what role can institutions and governance play in these processes.

During the Conference, the Governor participated in a discussion table, organised by Ms Christine Lagarde, Managing Director of the International Monetary Fund. Governor Sejko discussed on the contribution that the International Monetary Fund has provided to CESEE countries to realise the reforms, and the Fund's role in strengthening the civil society.

'... IMF has played and continues to play a significant role in the CESEE region. IMF programs and advice have resulted decisive in placing the region on the right path, from transition to convergence. In addition, the IMF has continued to play the role of a regulator whenever regional countries have encountered economic and financial difficulties', stated the Governor. To illustrate this role, the Governor referred to the last arrangement between Albania and the IMF, which was considered as indispensable and was successfully finalised. In the framework of this arrangement, our economy continues its growth pace, and the country has undertaken a set of structural reforms.

Regarding the future role of the IMF, Governor Sejko stated that this role might be more flexible and more efficient, contributing to the strengthening of preventive measures of possible crises and in achieving ultimate objectives.