President Meta decrees Mr. Gent Sejko to be elected Governor of the Bank of Albania

President Meta decrees Mr. Gent Sejko to be elected Governor of the Bank of Albania

Based on the fact that the mandate of the Governor of the Bank of Albania terminated on February 5, 2022, the President of the Republic, H. E. Ilir Meta, after following closely the developments and procedures in the Albanian Assembly regarding the appointment of members of the Supervisory Council of The Bank of Albania, today in support of article 93 and article 161, paragraph 2, of the Constitution of the Republic of Albania, has decreed that:

Mr. Gent Sejko is proposed to the Albanian Assembly to be re-elected as Governor of the Bank of Albania

We appreciate the policy of the Bank of Albania, which has been accommodating to provide the necessary support for economic recovery as a result of the earthquake and pandemic, as well as in facilitating fiscal consolidation.

The role of the Bank of Albania in ensuring that the financial sector remains stable and liquid is also to be underlined.

However, in conditions when total inflation has increased due to higher food and energy prices, the Bank of Albania should continue to closely monitor inflation developments and adjust the policy stance in line with its objective of maintaining the stability of prices.

The growing risk of problematic loans adds to the importance of closely monitoring the quality of banks’ loan portfolios, maintaining capital reserves and strengthening bad credit resolution frameworks.

All actors need to make joint efforts to better monitor and manage the growing fiscal risks associated with increasing public debt and exposure to the increasing of the portfolio of Public Private Partnership projects.