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Banks in Albania not allowed to transfer money to Greece: central bank

Xinhua, July 3, 2015 Adjust font size:

The Bank of Albania's Governor Gent Sejko Thursday declared that commercial banks in Albania are not allowed to transfer their capital to Greek banks as a protective measure undertaken by the Central Bank.

The Bank of Albania has announced several preventive measures in relation to the deep economic crisis of Greece and their possible effects at the performance of private banks in Albania. Sejko said that these measures aim to prevent the negative effects that the economic crisis of Greece might have in the upcoming months in the Albanian bank system.

"The Greek crisis is expected to have insignificant influence on our bank system regardless what happens in the upcoming days, but the economic growth of Albania will be affected by a possible Greek bankruptcy in overall," declared the Governor.

"We have to predict the economic growth by taking in consideration the latest developments in our neighboring country. The Bank of Albania decreased its projection regarding the economic growth for this year, which is expected to be less than 3 percent," added Sejko.

The Bank of Albania announced that the interest rate will remain unchanged at 2 percent, while it is expected a gradual economic growth in the second semiannual of 2015. Endit