Governor Sejko: The Supervisory Board approves the postponement of the loan installments for a period of 3 months.

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The Governor of the Bank of Albania, Gent Sejko, announced that the Supervisory Council decided to take some measures in the context of dealing with the situation related to CoVid-19.

The Supervisory Board has approved the postponement of the loan installments for a period of 3 months.

Governor Sejko stressed that this measure has been taken more to avoid contact between people, due to the spread of the coronavirus, and applies to all those who have financial difficulties or can not afford to go to the banks. According to Sejko, the loan installment can be paid by anyone, as the banks will be at work all the time.

The Bank of Albania is monitoring the situation in detail to take the necessary measures for the health of bank employees and customers, said Sejko.

Banks have been instructed to guide the clientele to use credit cards as a supplementary protection measure in the hygienic framework. However, measures have been taken to ensure that ATMs have all the necessary liquidity at all times.

"We have begun to analyze the effects of this epidemic on the economy. Of course the economy will have negative effects, international markets have suffered losses of billions of euros, our economy will have its effects in this situation. We are seeing tailor-made enterprises that are facing difficulties. The economy will have consequences, but we do not anticipate it falling into recession. Primary is currently to prevent the spread of the virus. "The more rigorous we are in preventing the spread of the coronavirus, the smaller the consequences for tomorrow's economy." stressed Governor Sejko in a skype interview for News 24.

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