U.S. tariffs – Albanian  Telegraphic  Agency. https://en.ata.gov.al News Agency Fri, 27 Jun 2025 16:16:29 +0000 en-US hourly 1 BoA Governor Sejko: U.S. tariffs have negligible impact on Albanian economy https://en.ata.gov.al/2025/06/27/boa-governor-sejko-u-s-tariffs-have-negligible-impact-on-albanian-economy/ https://en.ata.gov.al/2025/06/27/boa-governor-sejko-u-s-tariffs-have-negligible-impact-on-albanian-economy/#respond Fri, 27 Jun 2025 16:16:29 +0000 https://en.ata.gov.al/?p=268171 TIRANA, June 27 /ATA/ – Gent Sejko, Governor of the Bank of Albania, participated in the IMF-World Bank Constituency Meeting in Varese, Italy, which brought together finance ministers and central bank governors from member countries in the constituency, including Italy, Greece, Portugal, Malta, and San Marino, to discuss the latest global economic developments and challenges.

In his remarks at the meeting, central bank Governor he highlighted the limited direct impact of recent U.S. tariffs on Albania’s economy.

Sejko pointed out Albania’s status as a small, open economy closely integrated with the European Union, noting that U.S. tariffs affect only about 0.2% of Albania’s GDP due to limited trade and financial ties with the United States.

However, he warned that a broader global trade war could reduce export demand, increase imported inflation, and pose risks to the financial sector as exposed companies face tougher conditions.

Central bank Governor also underscored the importance of economic resilience amid increasing global risks, including natural disasters linked to climate change. He stressed the need for financial preparedness and risk mitigation to support sustainable development.

Albania has been a member of the IMF and World Bank group since 1991 and shares its constituency with Italy, Greece, Portugal, Malta, and San Marino.

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