Albania announces de-euroisation strategy

TIRANA, March 14 – Albania’s central bank says it is undertaking measures to implement a de-eurisation strategy that would accelerate the reduction of the current high levels of foreign currency in the country’s banking system, considered a key barrier for the transmission of its easier monetary policy and giving a boost to sluggish credit and consumption. Governor Gent Sejko says the country’s highest financial authorities have already identified some measures, including charging higher fees on transactions in foreign currency to curb high levels of foreign currency in the banking system, estimated at 60 percent for credit and almost 50 percent…