PRESS RELEASE
Governor Sejko meets Governor François Villeroy de Galhau in a two-day visit to Banque de France

On 26-27 May 2016, Gent Sejko, Governor of the Bank of Albania, paid a two-day visit to the Banque de France. This is considered as a very important visit in the framework of the cooperation between the two central banks.

During the visit, Governor Sejko met with Banque de France Governor François Villeroy de Galhau and other senior officials. Discussions focused mainly on the bilateral economic relations, performance of the Albanian banking system, promotion of Albania's potentials and the most recent developments in the euro area.

Governor Sejko informed Governor Villeroy de Galhau on the latest economic and financial developments in Albania, pointing out that, notwithstanding the unfavourable global situation, Albania has made positive progress in terms of economic growth. The Bank of Albania has contributed to it through the accommodative monetary policy stance, supporting sustainable economic growth and guaranteeing macroeconomic stability.

The two governors discussed also on the role and challenges facing the monetary policy, amid uncertainties and low inflation in global and European economies. They shared the view that the harmonisation of macroeconomic policies contributes to the acceleration of economic development, in both countries.

Focusing on banking sector developments, Governor Sejko highlighted the achievements and potentials of this sector in Albania, which has optimum financial indicators. As the supervisory and regulatory authority, the Bank of Albania is constantly working on approximating the Albanian banking legislation with the European one, as a precondition for creating adequate conditions for the further development of this sector.

Governor Sejko thanked Governor Villeroy de Galhau for the successful cooperation between the two institutions, especially for the assistance by the Banque de France in joint projects in several fields of the activity of the Bank of Albania.

Governor Villeroy de Galhau commended the contribution and the important role of the Bank of Albania with regard to macroeconomic and financial stability. He pointed out that the insofar policies and measures implemented by the Bank of Albania have contributed to strengthening its institutional capacities and integrity.

In addition, Governor Villeroy de Galhau underlined that the bilateral inter-institutional cooperation has been and continues to be a solid and successful one. As a Member of the Governing Council of the ECB, he assured Governor Sejko that Banque de France and other central banks of the ESCB will continue to provide support towards fostering institutional capacities and promoting the adoption of international standards on central banking, until Albania becomes a full member in the European family. The cooperation may continue in fields such as: convergence of legislation with European standards, issues related NPLs, and central bank governance.

Concluding, Governor Sejko thanked Governor Villeroy de Galhau for the warm welcome and invited him to visit Albania, at a convenient time as per his agenda.

• Photos from the meeting of Governor Sejko with Governor François Villeroy de Galhau. at Banque de France.