Albania is in favor of free trade: BoA’s Sejko at Governors’ Club meeting

The Governor of the Bank of Albania Gent Sejko attended the 39th meeting of the Central banks Governors’ Club of the Central Asia, Black Sea region and Balkan Countries, held in Bodrum, Turkey.

The Club discussed about the global economic prospects, sustainable global growth, challenges and opportunities that Central Banks face regarding digital currencies.

In his speech, Governor Sejko brought to the attention of the participants several risk factors that could affect global growth, such as: divergence around free and global trade; structural reforms; financial market turbulence and geopolitical stability.

Regarding recent debates on the establishment by some countries of barriers to free trade, the Governor stressed that open markets allow for more efficient allocation of resources and provide better employment opportunities.

From the perspective of Albania, he said that much needs to be done to reduce the level of non-performing loans, to improve the supervision of non-bank financial system segments and to increase the elasticity of financial institutions.

SCAN

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