TIRANA, October 1/ATA/ Governor of the Bank of Albania Gent Sejko participated in the conference organized by the People’s Bank of North Macedonia and the Bretton Woods Committee, on the topic “Central banks and central banking in a very complex world: Demonstrating commitment and maintaining credibility”, organized in Skopje, North Macedonia.
Governor Sejko attended the panel on, “Perspective on the mandate of central banks and policy compromises” during which there were addressed the new challenges related to this issue and their interaction with the objectives of central banks.
During the panel, the governor presented the progress made by the Bank of Albania within the European integration process, especially in areas such as banking supervision and payment systems.
In context of the latter, he focused on the reforms and initiatives undertaken by the Bank of Albania regarding the development and modernization of payment systems, with the aim of further aligning them with the Eurozone payment system (SEPA).
Governor Sejko said that in recent years, central banks have taken on responsibilities that extend beyond their traditional focus on monetary policy.
According to him, climate change, in particular, has become a serious concern because it poses direct threats to financial stability and economic sustainability.
“I think, the way forward is to remain focused on our primary objective of maintaining price stability. Currently, we must recognize, understand and accept these challenges, as well as react to them through instruments and monetary policy, without putting our primary objective at risk,” Governor Sejko said.
On the sidelines of the conference, Governor Sejko also held meetings with IMF representatives and governors of other central banks. /r.e/a.f/p.s./
