TIRANA, Nov 11 /ATA/ – The President of the European Central Bank (ECB), Christine Lagarde, lauded Albania’s progress in strengthening financial stability and aligning with European Union standards in a video message marking the 100th anniversary of the Bank of Albania on Tuesday.
Lagarde highlighted the central bank’s efforts to safeguard monetary stability, including the introduction of macroprudential measures to manage housing market risks.
“Earlier this year, the Bank of Albania began implementing macroprudential measures to control potential risks that may arise from the housing market,” Lagarde emphasized, describing the move as a necessary step in line with best European practices.
She also praised Albania’s adoption of international banking supervision standards, including Basel III compliance, as vital for a resilient financial system.
“Close ties with the EU are among Albania’s most significant achievements, with over 70% of exports directed to the bloc and more than half of imports sourced from it,” Lagarde said, noting that GDP per capita has more than doubled since 1995.
ECB President emphasized that sustained commitment to sound policies and credible institutions is essential for Albania’s continued EU integration and long-term economic stability.
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