Sejko at the spring meetings of the International Monetary Fund and the World Bank!
The Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) were held in Washington, D.C., from 21 to 26 April 2025. The meetings are attended by finance ministers of member countries, central bank governors, senior executives of international financial institutions, and representatives of academia, business, and civil society.
The press statement of the Chairman of the IMF's International Monetary and Financial Committee states that: "The world economy is at a crucial turning point. After several years of growing concerns about trade, trade pressures have suddenly escalated, fueling uncertainty, market volatility and risks to economic growth and financial stability. Growth in the near term is expected to slow down, while disinflation is expected to continue, but at a slower pace. The economic outlook is dominated by intensifying downside risks, in an already challenging context, where economic growth is weak and public debt is high. Wars and conflicts have brought severe economic and human consequences. Transformative forces, such as digitalization/artificial intelligence, demographic changes and climate transitions have created new opportunities, but also challenges."
The Bank of Albania was represented at these meetings by a high-level delegation, headed by the Governor, Mr. Gent Sejko.
On this occasion, Governor Sejko held several important meetings with well-known personalities in the international financial field, among whom we highlight: the Executive Director for Albania at the IMF, Mr. Riccardo Ercoli; the Director of the European Department at the IMF, Mr. Alfred Kammer; the Assistant Director of the Monetary and Capital Markets Department, Ms. Jennifer Elliott; the Head of the IMF Mission, Ms. Anke Weber; the Vice President for the Europe and Central Asia Region at the WB, Ms. Antonella Bassani; the Executive Director for Albania at the WB, Mr. Matteo Bugamelli; the Regional Director for the Western Balkans at the WB, Ms. Xiaoqing Yu.
During these meetings, the latest macroeconomic and financial developments in Albania, macroeconomic policies, as well as developments in the financial and banking sectors were discussed. The focus of the talks was also on the sustainability of economic growth, inflation control, fiscal consolidation, structural reforms and monetary policies pursued by the Bank of Albania.
During the presentation of economic developments, Governor Sejko emphasized Albania's macroeconomic stability, which continues to confirm sustainable economic growth, supported by strong domestic demand and growing sectors, especially tourism and private consumption.
The Governor highlighted the significant improvement in the financial health of the banking sector, noting that banks remain well-capitalized, liquid and profitable, with a low level of non-performing loans. According to the data, the positive trends in financial performance and credit expansion testify to confidence in the financial system and its ability to support sustainable economic growth.
Regarding inflation, Albania has achieved low inflation as a result of stable monetary policies pursued by the Bank of Albania and improved financial conditions. Currently, inflation in our country is lower compared to countries in the region and those of the European Union.
Regarding future prospects, participants stressed the importance of structural reforms as a key opportunity for Albania's progress. Particular emphasis was placed on the need to strengthen transparency, reduce the level of informality in the economy, and prepare the country for the next stages of integration into the European Union.
The Governor appreciated the support and commitment of the International Monetary Fund and the World Bank in Albania's sustainable economic development and reconfirmed the Bank of Albania's readiness to maintain the country's financial stability and address potential challenges in the future.
The overall assessments were positive, highlighting that the Albanian economy is maintaining a stable trajectory with annual growth of 3.5% - 4%, low inflation of around 2%, which is expected to return to target during 2026, declining public and external debt, and increasing foreign exchange reserves.
Also highlighted during the meetings was the good performance of the banking system, which remains liquid, with healthy financial indicators and a low level of non-performing loans (NPL), which has fallen from 25% in 2014 to 4% in 2025. The banking system has continued to support lending to the economy, with a strengthened regulatory framework and compliance with international standards.
The IMF-WB representatives congratulated the Bank of Albania and the relevant authorities for the excellent work that led to Albania's successful membership in SEPA (Single Euro Payments Market), as well as the pursuit of further steps to implement SEPA standards in practice and the successful finalization of the first transactions in October 2025. This success represents an important step towards strengthening our country's financial integration with the European market and opens new perspectives for economic development and increasing international confidence in Albania.
Albania is increasingly consolidating itself as a success story in the region, thanks to economic reforms and prudent policies pursued by the authorities and the Bank of Albania. In a challenging global period, the country has shown macroeconomic stability, sustainable growth and an improved business climate. One of the key factors in this success has been the prudent monetary policy, pursued with a balanced approach by the Bank of Albania, which has managed to maintain price stability, while supporting economic growth. Interest rates have been kept at levels that stimulate lending, which has directly impacted the growth of private investment and consumption.
At the conclusion of the meetings, Governor Sejko praised the close and continuous cooperation with the IMF and the World Bank, underlining their key role in supporting economic reforms and sustainable development of Albania.
In the framework of these meetings, Governor Sejko also participated in the plenary session of the IMF’s International Monetary and Financial Committee, as well as the WB Development Committee. Governor Sejko was also invited to a working breakfast with finance ministers and central bank governors, organized by the Director of the IMF’s European Department, Mr. Alfred Kammer, during which he presented macroeconomic developments in Albania, the main development sectors, as well as the potential it presents for foreign investors.
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