maintaining macroeconomic stability, particularly in controlling inflationary pressures, has been recently highlighted by a number of institutions within the country and abroad. however, i would highlight the public evaluation for the institution i govern as the greatest success we have achieved. this evaluation is expressed clearly in anchoring inflationary pressures in the country and in increasing the degree of using their products. naturally i regard it a direct reflection of high technical and professional investment the bank of albania has made in setting up an equilibrated framework of macroeconomic policies, in increasing financial markets, in developing the monetary market infrastructure and in consolidating the banking institutions. on the political plane, the bank of albania has kept unchanged its focus on monetary policy, to guarantee price stability in the economy. it has monitored prudentially the liquidity conditions and interest rates in the economy, as well as other factors of potential negative impact on inflation, raising twice the key interest rate in the economy. also, the bank of albania has been a productive partner in coordinating the economic policies of the country and in the performance of the agreement with the imf. on the financial market development plane, the bank of albania has undertaken a number of incentives for completing the banking infrastructure and the legal framework. reflecting largely on macroeconomic stability and on improvement of banking infrastructure, lending to the economy has undergone very rapid paces during three latest years. on the other hand, the strengthening of banking supervision measures and the prudential regulations serve as a guarantee that the banking system expansion and rapid credit growth to the economy will not create problems for the financial health of banks and for their long - term sustainability. the bank of albania is raising the degree of professionalism, which is a guarantee for strengthening the independence, transparency and accountability. therefore, the decisionmaking process has been further perfected, thus increasing the credibility of the bank of albania to the public.

of law - enforcement in terms of business relations development ; as well as a better protection of creditors ’ and consumers ’ rights of financial institutions and products. in practical terms, these measures would expand financing resources for economic development, thus relatively decreasing its dependence on the banking sector. also, public authorities should, through a close cooperation among them, review and improve the framework of measures for efficiently withstanding the extraordinary financial situations, being ready to engage the necessary financial, human and technological resources and carry out necessary legal and regulatory changes. dear heads of the albanian banking system, the events we have experienced in these 12 months make us believe that prior - to - crisis economic and financial balances are likely to shift to a new equilibrium. i think that what i just said constitutes the essence of our contribution to the future : let us do our best to make the economy move naturally towards a new equilibrium. all the institutions, policy - makers, administrators should be committed seriously to setting - up this new hotbed for our economy, so that as the years go by, it becomes attractive, competitive and profitable for every economic agent, either domestic or foreign. getting away from the pressure exercised by the crisis whirlpool requires much optimism, energy and financial resources. at national level, ensuring steady foreign currency inflows, particularly in the form of foreign direct investments, remains a major priority. i think that the banking system has a prior role to play in this regard. it should be active in identification, promotion and financial backup. thus the multiplier effect of foreign investments would gain a new dimension. bailing the country out of the crisis spillovers requires not only energies, but also joint efforts. the irreversible path towards a democratic system of market economy requires financial architecture perfection and the country ’ s steady economic development in the long run. to this end, the drafting and implementation of wise development policies should be a constant, real and forward - looking priority, in full accordance with the european convergence framework. only in this way we will harvest all comparative advantages that our country and the region and beyond provide to foreign investors. let me finally emphasise once more that a well - capitalised banking system is a long - awaited development. however, considering only the regulatory capital is insufficient, i think. what i really think poses an ongoing challenge is the capital of public trust. the latter one is not an output of regulations or banking supervisory practices. it is an output of all actors ’ sacrifices. enhancement of