The level of the use of foreign currencies known as “euronization” has recently seen an increase in Albania, turning into a threat for its financial stability.
Such fact has also been confirmed by the heads of the main institutions of the country, such as the Bank of Albania, ministry of Finance and Oversight Financial Authority. All three of these bodies have signed today a special memorandum with the aim of strengthening the domestic currency, Lek.
“The objective of this strategy is to create the necessary conditions and the necessary stimulus to have a gradual and sustainable impact on the reduction of the use of foreign currency and expand the use of the national currency in the financial system and economy of the country, in line with the objective of strengthening the efficiency of monetary policy and preservation of financial stability”, this memorandum stipulates. /balkaneu.com/