Lastly, the implementation of the IMF arrangement not only guarantees the stability of the public debt, but also provides us with the possibility for additional funds to withstand any unexpected and unwanted development. The arrangement is an insurance policy, which should assure all the economic actors for the country’s financial soundness. Dear media representatives, Concluding, I would like to re-emphasize Bank of Albania’s commitment to safeguarding the country’s economic and monetary stability. In our judgment, the adopted policy framework provides a sound and coordinated development platform. Pursuant to our legal requirements and the development programme, the Bank of Albania will continue to work on: •  Maintaining price stability and sustaining the country’s development. Under the current scenarios, the monetary policy stance will remain accommodative for several quarters ahead. We are, however, willing to take any additional measures necessary to maintain price stability and the purchasing power of Albanian households. •  Safeguarding the country’s financial stability, in cooperation with all the stakeholders. We are in on-going contact with our international partners and other public agencies. Our analyses show that the banking system is stable. However, even under shocks, we have detailed measure plans available to avoid financial constraints. •  Developing the financial system further through the implementation of measures agreed upon under the FSAP arrangement and provided for in cooperation with the continued IMF assistance. •  Continuous improvement of the Bank of Albania, with a view to enhancing its professionalism, reputation and independence.

Gent Sejko: Fifth review of the arrangement with the IMF concluded Speech by Mr Gent Sejko, Governor of the Bank of Albania, at the joint press conference with the IMF mission, Albanian MoF (Ministry of Finance) and MEDTTE (the Albanian Ministry of Economic Development, Tourism, Trade, and Entrepreneurship), Tirana, 30 June 2015. *  *  *  Dear media representatives, In line with the already established practice, in the past two weeks, we have constantly met and exchanged views and opinions with International Monetary Fund representatives. As always, these meetings serve to make a comprehensive analysis of economic and financial developments, with a view to identifying the necessary measures for a steady development. Following, I will present a summary of Bank of Albania’s opinion. The Albanian economy is on a positive development trajectory, irrespective of the shocks we have been facing in the first half of the year. Economic and financial balances in Albania are sound. The Banking system is liquid and well capitalised; Albania’s public debt is in control; and, the financial situation of Albanian businesses and households is improving. Long-term development resources for the country remain stable. This situation is an outcome of economic policies oriented towards stability, which we have undertaken. In view of the latest developments in Greece, I would like to emphasize that the external environment appears challenging, but Albania’s economy and financial system are capable to withstand even extreme shocks.