Albania’s euroisation needs to drop by 10% to avoid annual losses of €67 mln, IMF experts say

TIRANA, Jan. 29 – As Albania’s central bank prepares to apply de-euroisation measures in a bid to reduce the current high level of Euro-denominated loans and deposits in the country’s banking system, experts estimate Albania has to significantly reduce its euroisation levels in order to avoid annual losses of dozens of millions of euros. A recent IMF working paper by international and Albanian experts estimates that Albania loses a total of about 9 billion lek (€67 million) annually, 0.6 percent of the GDP, from its high euroisation levels at about 50 percent. The losses include 6 billion lek (€45 million)…