Inflation in Kosovo twice as high, Albania nears 3 per cent

As long as there are risks from the fluctuations of international markets, he says Albania is close to the goal of achieving inflation of 3 per cent.

Sejko in an interview for Kosova Prees, stresses that relations between the Bank of Albania and the Central Bank of Kosovo remain excellent, with joint projects for financial stability, modernising payment systems and bank supervision.

In Albania we have an inflation rate below 3 percent, so we are close to our objective and we are heading towards the goal of achieving inflation of 3 percent. For Kosovo, the governor of Kosovo Central Bank will say, I don't have concrete information”, he said.

Sejko underlines that financial relations between Albania and Kosovo are very good and based on concrete projects.

“Albania and Kosovo have very good co-operation. There are a series of intergovernmental agreements, which belong to the governments of the two countries, Albania and Kosovo. Concretically, as governor of the Central Bank I can talk mainly about the relations we have with the Central Bank of the Republic of Kosovo. Fine relationships that have worked very well in time and continue to function. This exhibition is an example of the very good relations and perfect co-ordination the Bank of Albania and the Bank of the Republic, the Central Bank of the Republic of Kosovo. We have many joint projects, we are working together in terms of financial stability, banking supervision, the development of payment systems and many other projects, which are functioning of the economy, but citizens of these countries. Today we were delighted to celebrate the opening of the exhibition for the 100th anniversary of the monetary history of the Bank of Albania, but primarily the monetary history of all Albanian trains and I guarantee that we will continue a fine co-operation between the two central banks for the benefit of our economies, for the benefit of our citizens and our countries”, says Sejko.

Sejko stresses the importance of modernising the payment systems, citing Albania's membership in SEPA, and co-operation with the Kosovo Central Bank to become part of the system.

Until it says that the digitalisation and modernisation projects of payment systems will make payments faster and cheaper.

“Of course, the ease of transactions will be made through modernising the payment systems, which we are working hard. We in Albania have become members of SEPA, which is the unique payment system in the euro recently, and the Central Bank of Kosovo is working, we are co-operating that it will soon be a member of SEPA. The digitalisation and modernisation projects of payment systems will make payments faster and cheaper, with lower commissions. In this respect we are working hard and the Central Bank of Kosovo has made a huge progress in this respect and this will make the cut of time and lowering commissions...400 bank costs will come down through the projects we are pursuing for modernisation of payment and digitalisation systems, which are under way”, notes Sejko.

It also confirms that there are new agreements in the area of payment and bank supervision, which are being implemented under memorandums of co-operation between the two central banks.

“We have some arrangements in the area of payments, in the area of bank supervision, which are being implemented. We have walked and acted on the basis of the agreement, the co-operation agreements, which we say in English to the Memorandum of Understanting, among our banks, and the work continues”, he says.

He also stresses that the interest of Kosovo investors in Albania and those Albanians in Kosovo continues to be high, saying that “investors are welcome both in their homeland, whether in Albania or Kosovo.

The “has always had interest, continues to have interest, Kosovo investors, as well as Albanian investors in the Republic of Kosovo. Of course, this interest is continuous, trade relations are ongoing, but even investors not to mention the names of investors who are known, the market knows, are welcome because both Kosovo investors in Albania and Albanian investors in Kosovo are both in their homeland”, Sejko adds.