Natasha Ahmetaj: Interesting facts from the Treasury - art in Albanian banknotes Welcome address by Ms Natasha Ahmetaj, Second Deputy Governor of the Bank of Albania, at the launch of “Interesting facts from the Treasury: Art in Albanian Banknotes", Tirana, 19 May 2017. * * * Dear friends, dear guests, Today, we are together at the premises of the Bank of Albania, not only in the attribute of this place as the house of money, figuratively, but also in the physical sense of the word, as this room is next to the old treasury room. We have invited you today to enjoy another dimension of the currency, that of an authentic artwork. A work of art always speaks more broadly and deeper than its mere physical dimension. Today, we are in a Museum of works of art. Museums are more than just expositions. While you move from one display to the other, you are not simply walking some centimetres along the street, but you travel through centuries of history. Those few centimetres take you through eras of social civilisation. This is a unique feeling you can only experience in a museum. A zoo or a botanical garden depicts the real world in miniature. But it shows the actual living world. By contrast, a museum brings together different eras, the past and the present. This is especially true in a museum of banknotes and coins. Modestly, our Museum does that as well.
Ladies and Gentlemen, this seminar comes at a time when the economic performance of our country has significantly strengthened as partly reflected in the developments in the gross domestic product (GDP), inflation, interest rate and exchange rate. At a preliminary estimate of 5.7% in 2007, growth in real GDP has been above 5% for the fifth consecutive year. During the month of January 2008, inflation remained in single digit at 9.3%, from 8.9% and 8.2%, in December 2007 and December 2006, respectively. Commercial banks lending rates have also exhibited an investment-supportive trend while the Kwacha has remained relatively stable. Further, we have observed an improvement in the fiscal operations of the Government, which is supportive of the country’s inflation and growth objectives. The financial sector has also been very stable and registering appreciable growth in the recent years. Nevertheless, Mr. Chairman, despite these achievements, our country like so many other developing countries, still faces some challenges. Notable among these, is the urgent need to consolidate and build the gains so far attained. In particular, the need to attain sustained price and financial systems stability can hardly be over-emphasised. This is even more pronounced given the recent electricity outages experienced across the country and floods that have ravaged some parts of Zambia. Chairperson, it is also pleasing to note that, in the recent past, there has been recognition of the need to adopt economic and structural reforms in most African countries and some benefits are already evident in this regard.