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Sejko at the IMF and World Bank meetings: Higher security and lower costs for citizens, monetary policies reduced inflation

2024-10-26 12:11:24Biznes SHKRUAR NGA REDAKSIA VOX

Sejko at the IMF and World Bank meetings: Higher security and lower costs for

The representatives of the International Monetary Fund and the World Bank have encouraged the Bank of Albania to carry out continuous monitoring of bank credit, exchange rate and interest rate risks by the Bank of Albania.

During the annual meetings of these two institutions, Governor Sejko stated that the Bank of Albania is cooperating closely with the World Bank and the Bank of Italy for the further development of the payment system, to offer fast payments that are made in real time, with a security higher and lower cost for citizens.

"A very good job has been done in modernizing payments and digitizing the banking system. Albania has applied first and is expected to become a member of the Single Euro Payments Market payment system - known as SEPA. At the same time, the Bank of Albania will also implement a fast payment system (Instant Payment) which is a clone of the TIPS system, the European fast payment system. This is being coordinated and discussed with the countries of the Western Balkans."

According to him, the modernization of the payment system and the digitization of the banking system create the conditions for further development of banking products and cost reduction for consumers.

The representatives of the IMF and the World Bank have congratulated our country for the progress made in terms of economic development, for the conclusion of negotiations with the European Union for the first group-chapter, as well as for the assessment of the Albanian economy with B1-positive by Moody's Agency. .


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