Albania’s international reserves rose by 3.2% m/m to EUR3.1bn at end-September, the Bank of Albania (BoA) reported. On annual basis, the reserves rose by 10.0% y/y. The foreign reserves accounted for 25.3% of the GDP forecast for 2018.
The monthly increase in the international reserves was mostly underpinned by a 3.8% m/m growth of the other reserve assets, in particular representing rising claims on entities other than monetary authorities and higher m/m long-term debt securities. The reserve position in the IMF also posted a 0.5% m/m increase, but its share and consequently contribution to the total international reserves’ change is negligible.
In annual terms, the sharp foreign reserves’ increase was on the back of a 12.9% y/y growth of other reserves assets again, which reached EUR2.9bn at end-September.