Check our bulletin board of Hellenic Conferences Read the Convention Relating to the Regime of the Straits (24 July 1923) Read the Convention Relating to the Regime of the Straits (24 July 1923)
HR-Net - Hellenic Resources Network Compact version
Today's Suggestion
Read The "Macedonian Question" (by Maria Nystazopoulou-Pelekidou)
HomeAbout HR-NetNewsWeb SitesDocumentsOnline HelpUsage InformationContact us
Thursday, 28 March 2024
 
News
  Latest News (All)
     From Greece
     From Cyprus
     From Europe
     From Balkans
     From Turkey
     From USA
  Announcements
  World Press
  News Archives
Web Sites
  Hosted
  Mirrored
  Interesting Nodes
Documents
  Special Topics
  Treaties, Conventions
  Constitutions
  U.S. Agencies
  Cyprus Problem
  Other
Services
  Personal NewsPaper
  Greek Fonts
  Tools
  F.A.Q.
 

Albanian Times, April 4, 1996

From: Albanian Times <AlbaTimes@aol.com>

The Albanian Times (by AlbAmerica TRade & Consulting International) Directory

CONTENTS

  • [1] Albania Poised for Bank Privatisations

  • [2] Regional Cooperation Prospects Confirmed

  • [3] Democrats Open Convention, Launch Election Campaign

  • [4] Albania to Open Embassy in Sarajevo


  • [1] Albania Poised for Bank Privatisations

    TIRANA, April 3 - Albania's central bank governor said two of the country's three existing banks would soon be fully privatised, and indicated foreign buyers had shown strong interest in acquiring a foothold in the country. Kristaq Luniku said state-owned National Commercial bank and the Rural Commercial bank would be first on the list for a possible privatisation. A third bank, The Savings Bank, would be partially sold off. Asked whether the government was planning to retain stakes in the two commercial banks, Luniku answered: ``I do not think the state has reason to keep any.'' Albania set up its banking system in 1992, forming a central bank and three supervised state banks. While the regulatory basis for the privatisation was already in place, Luniku said the central bank was still waiting for a report by an international accounting firm to determine the banks' financial soundness. Depending on the report's findings, Luniku said the government would consider whether to help restore the banks' balance sheets by assuming their non-performing loan portfolio. ``This will be done so that they can be really sound banks and be turned into shareholding companies, which will then be sold,'' he said. Luniku added the central bank would step up its drive to attract more capital, financial services and expertise to the country's fledgling economy by encouraging new banks, both foreign and domestic, to seek a licence. ``The new banks will help the speedy development of Albania by bringing in much-needed capital and investment and provide financing in the private sector,'' he said. The National Bank of Greece last month became the first foreign bank to obtain a full banking licence in Albania. The Tirana central bank has reportedly agreed to soon examine four more applications by Greek banks to open in Albania. (Courtesy of Reuters)

    [2] Regional Cooperation Prospects Confirmed

    TIRANA, April 3 - A meeting of foreign ministers from the southern Balkans at the end of June and of defence ministers in September now seem to be a possible follow-up to a meeting of defence ministers from Albania, Bulgaria, Turkey and Macedonia, according to ANSA. The ministers showed ''great interest'' in the Bulgarian proposal for the two meetings to discuss closer links with the Dayton peace process in Bosnia and moves for closer relations with NATO and the European Union. Meanwhile, Greek government has said that Greece had refused an invitation to attend the meeting in Tirana because Romania and Serbia had not been invited to participate. "The government wishes there to be a climate of concord and agreement in the region of the Balkans," government spokesman Dimitris Reppas was quoted by ANA. In order for such a climate to exist, certain prerequisites must be met "one of which is the participation of all the Balkan countries in such meetings", he said. (Albanian Times, ANSA, ANA)

    [3] Democrats Open Convention, Launch Election Campaign

    TIRANA, April 4 - Albanian President Sali Berisha, praised the performance of his Democratic Party and urged his compatriots to prevent the return of the former communists to power. Speaking at the Party's national convention, Berisha said the democrats had transformed Albania from the ugliest example of communist dictatorship to a country where economic reform was taking hold and the rule of law established. He said, Albania has attained two-digit growth in gross domestic product after a 40 percent fall in production and has reined in inflation to six percent in 1995 from a galloping 400 percent when the Democrats came to power in 1992. He promised to introduce a series of tax incentives and privatisations both for foreign and domestic investors. Within two years, a new Democratic government would privatise banks, mines, the oil sector, hydro-electric power stations and telecommunications and cut taxes, he said. The convention is launching the Party's campaign for the upcoming nationa elections. A date for the poll is yet to be set but the elections are widely expected to take place in June. The Democrats won a landslide election victory in March 1992 over the incumbent Socialist government, securing 92 seats in the 140-seat parliament. A December poll by U.S. firm Public Opinion Strategies showed Berisha's Democrats with 41 percent support with the Socialists trailing at 19 percent. "A victory for the Democratic Party would be a victory for all," Tritan Shehu, the Party's General Secretary said. The convention is expected to elect a Party chairman. (Albanian Times, Reuters)

    [4] Albania to Open Embassy in Sarajevo

    TIRANA, April 3 - Albanian Foreign Minister Alfred Serreqi said his country will open soon an embassy in Sarajevo. On his two-day visit in Sarajevo, Mr. Serreqi discussed the possibility of a number of agreements with the Bosnian government. In talks with Bosnian trade officials, Mr. Serreqi urged chambers of commerce in both countries to act rapidly to establish contacts between them. (Albanian Times)


    The material was reprinted with permission of AlbAmerica Trade & Consulting

    International. For more information on ATCI and the Albanian Times, please

    write to AlbaTimes@aol.com

    Copyright (c) ATCI, 1996

    Back to Top
    Copyright © 1995-2023 HR-Net (Hellenic Resources Network). An HRI Project.
    All Rights Reserved.

    HTML by the HR-Net Group / Hellenic Resources Institute
    news2html v2.20 run on Thursday, 4 April 1996 - 21:39:18