The Bank of Albania approved a package of legal measures which aim to reduce the usage of Euro in the Albanian economy.
“The process is necessary and useful in the long term. It will improve the efficiency of economic and financial policies, and will also reduce the risks of financial stability. Our studies show that there is a high usage of foreign currencies. This phenomenon is related to the high usage of currencies in commercial transactions but also with savings”, Governor Gent Sejko declared.
The legal measures create higher costs for Banks if they accept deposits in Euros. According to the Governor, this measure aims to reduce economic risks.
The reduction of Euro has been advised by the IMF and Standard and Poors as well.
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