On July 15, 2019, the Governor of the Bank of Albania, Gent Sejko attended the second high level conference on Demography, Employment and Economic Growth: Crossing the Future in Central and Southeast Europe, organized by the National Bank of Croatia and the International Monetary Fund (IMF) in Dubrovnik, Croatia. In addition to the top IMF representatives, at this conference were attended by 15 governors and finance ministers from Central and Eastern European countries (EQLLs), representatives from the World Bank, the European Commission, the International Bank for Regulation and Institutions other financial and academic world.
The works of this conference focused mainly on issues related to the demographic movements of the CESE population, economic growth, employment and education, and the measures to be taken in the future to reduce the level of unemployment and the informal economy in order to guarantee a sustainable and substantial economic growth for these countries.
During the conference, participants discussed the various political and economic developments in CES countries during the last decade, and the effects they have on the economic performance of phenomena such as rising emigration, aging of the population and the decline of the workforce.
During the conference, Governor Sejko was part of the discussion table chaired by the Deputy Director General of the International Monetary Fund, Tao Zhang. Like the conference, this round table focused on addressing demographic challenges of common interest and reforms to address them. Mitigation of emigration, employment growth and education are the challenges of the times facing the economies of these countries and therefore, the respective governments have set priorities for overcoming them.
In his speech, Governor Sejko emphasized that these phenomena are noticed and followed with concern in the Albanian economy as well. Therefore, for their treatment, Albanian institutions are engaged in development programs that increase labor productivity and slow down qualified emigration. The goal is not only to increase the productivity of the professional workforce in the country, but above all to provide employment opportunities in various sectors of the talented young talents economy, so that they can invest their knowledge in the economic development of the country. In this context, the continuity of structural reforms is essential, whereby, among them, a particular country should necessarily focus on reforms geared towards raising the level of education, developing technical skills and professional qualifications,
In conclusion, Governor Sejko added that a key element and key role in achieving the success of these efforts is cooperation with partner countries and prestigious international financial institutions such as the International Monetary Fund and the World Bank to gain experience of the practices the best, but the proper orientations in this regard.
News Source: BoA