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

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7 mins read
8 years ago
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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)…

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  • 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, according to an IMF working paper. Experts estimate Albania’s current euroisation level of about 47 percent needs to drop by only 10 percent in order not to negatively affect the country’s banking system and economy.

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