2.9 billion EUR reserves. Bank of Albania has 1.8 billion EUR in foreign governments
01/05/2017 00:00
The Washington Agreement Must Be Reactivated! 06/01 19:04
Albania has 3 billion EUR of international reserves in foreign currency.
According to the Bank of Albania, compared to one year ago, the
country’s reserve has increased with more than 150 million EUR.
Bank of Albania is the authority that administers the currency reserve. Data show that the Bank has invested most of its assets, around 1.86 billion EUR, to treasury bonds of foreign governments.
But the bank is not allowed to invest in treasury bonds of any government. For security reasons, the law forces them do buy the debt of only safe countries, with an evaluation higher than 3B+. Albania has a lower evaluation, and that’s why the Bank is not allowed to purchase currency from the Albanian government.
The second place in which international reserves are invested, are currencies and deposits in foreign central banks. In these instruments, the Bank of Albania keeps around 806 million EUR. The last ones are shares at the IMF and gold bars.
IMF shares mount up to 220 million EUR, while the gold Bank of Albania has reaches 58.8 million EUR. The currency reserve is a very important instrument through which the Bank of Albania guarantees the payment of its foreign debt, the funding of imports, and above all, the stability of the currency rate and financial stability of our country.
Top Channel
