us as an industry to consolidate the gains so far achieved. ladies and gentlemen, let me acknowledge the commitments that the bankers association has made in the revised code of banking practice relating to the provision of “ no frills account ” to certain segments of our population. as the central bank we will be interested to receive information on how you are performing in this important area for financial inclusion. on our part, we have issued a “ practice note ” to assist commercial banks overcome some of the know your customer challenges faced with when dealing with some segments of our society. chairperson, let me conclude by reiterating the important role that a healthy and stable financial system plays in an economy. this objective cannot be achieved by the bank of zambia alone but through collective efforts including the government and yourselves. my expectations are that although the role of chairperson has changed, the association will remain true and steadfast to its values and objectives. we look forward to continuing working with the association on many issues that still require attention and on - going dialogue. i thank you. bis central bankers ’ speeches

gent sejko : albania's economic and financial developments in 2019 speech by mr gent sejko, governor of the bank of albania, during the presentation of the annual report of the bank of albania for 2019 in the albanian parliament, tirana, 2 july 2020. * * * honorable mr. speaker of the assembly, distinguished ladies and gentlemen, let me thank you for the invitation and the opportunity you have given me to present to you the annual report of the bank of albania for 2019. in general, i find that the work of the bank of albania has had a positive contribution to strengthening the monetary and financial stability of the country. this stability is a necessary precondition for the sustainable and long - term development of the country. also, the bank of albania has fulfilled its other legal duties, has made progress in the implementation of the medium term development strategy, and has implemented the recommendations left by the albanian parliament. * * * in accordance with the legal framework in force, the main objective of the work of the bank of albania is to achieve and maintain price stability. 1. albanian economy and monetary policy during 2019 2019 was a challenging year for the albanian economy. economic activity continued to benefit from rising private consumption and the rapid expansion of tourism. however, the foreign environment proved to be unfavorable, while the decline in electricity production, the gradual termination of investments in major energy projects, and the november earthquake had strong negative effects. as a result, the economic growth of 2019 resulted in the level of 2. 2 %, down from the level of 4. 1 % recorded in the previous year. the shocks we suffered slowed down the growth rate, but did not divert the albanian economy from the positive development trend. this performance was reflected in the reduction of the unemployment rate, in the increase of employment and wages, as well as in the reduction of the foreign debt and the public debt of the country. in parallel, the main indicators of the health of the banking sector remained at satisfactory levels. the average inflation of 2019 resulted in the level of 1. 4 %. the performance still below the inflation target, required the maintenance of the stimulative direction of monetary policy during 2019. for this reason, the bank of albania kept the key interest rate unchanged at 1. 0 %, oriented the market on maintaining the easing direction of monetary policy in medium - term horizon, as well as supplied banks with the necessary liquidity. in response to our monetary policy, financial