Albania’s central bank to apply de-euroisation measures

TIRANA, July 4 – Albania’s central bank says it is in its final stage of concluding a de-euroisation strategy and intends to launch its implementation next year in a bid to 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 de-euroisation strategy will discourage savings and credit in Europe’s single currency currently accounting for half of total deposits and loans in a gradual process to make the…