The Governor of the Bank of Albania, Mr. Gent Sejko, attended the 35th Meeting of the Central Bank Governors' Club of the Central Asia, Black Sea Region and Balkan Countries. The meeting was held on 16-18 June 2016 in Almaty, Kazakhstan, and was presided by Mr. Akishev Daniyar Talgatovich, Governor of the National Bank of Kazakhstan. Central bank governors from 24 countries attended the meeting.
The discussions focused on the role of central banks in guaranteeing the macro economic and financial stability in the respective countries. The head of the monetary institutions shared their experiences and measures taken by central banks to safeguard financial stability. This issue is of particular interest in the framework of the challenges the central banks are facing.
The meeting served also as a platform of discussions, to share ideas on the role of the monetary policy after the recent crisis, as all the regional economies are tackling its consequences and are committed to the recovery of the economy.
The Governor of the Bank of Albania, Mr. Gent Sejko, presented an overview of the latest developments in the Albanian economy and the measures the Bank of Albania has taken to boost the economic activity. Governor Sejko highlighted that, through the accommodative monetary policy stance, the Bank of Albania has provided the necessary contribution to supporting sustainable economic growth and guaranteeing macroeconomic stability.
Furthermore, Governor Sejko informed the participants on the commitment by all government and financial institutions in Albania to harmonize the accommodative monetary policy with the consolidating fiscal policy and to improve the legal and regulatory framework, with a view to addressing and solving the issue of non-performing loans.
The Central Bank Governors' Club of the Central Asia, Black Sea Region and Balkan Countries was established in 1998, upon the initiative of the Central Bank of the Republic of Turkey. Its members include: Albania (since 1998) Greece, Turkey, Romania, Bulgaria, Bosnia and Herzegovina, Macedonia, Serbia, Montenegro, Russian Federation, Ukraine, Israel, Azerbaijan, Armenia, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, China, Czech Republic, Poland, Croatia and Slovenia. The purpose of the Governors' Club is to strengthen the ties among central banks in the region and foster regional cooperation, through the exchange of best experiences and round tables organized at governor or expert level on current issues of concern.