During 2013 the Albanian state had a value of 21.66 billion ALL deposits in foreign banks. These deposits are nothing but currency that, as a result of not getting an appropriate terrain to invest in the country, is deposited in banks abroad.
Source: Bank of Albania
Comments and analysis: ODA
This year, deposits in foreign banks were composed of 61.5% from current accounts, 38.4% of short term deposits, 0.1% of futures contracts and much less accrued interest. Short-term deposits and current accounts in foreign banks have interest rates that are based on the currency of the deposit or account. Future contracts are standard contracts for the purchase or sale at a future date of a financial or non-financial asset, with a specific predetermined price. On 31 December 2013, the net value of these contracts was 31 million ALL. Accrued interest includes incomes from lent securities, with a value of approximately two million ALL.
Source: Bank of Albania
Comments and analysis: ODA
In 2007 the money deposited by the Albanian state in other countries has had a value of 40.84 billion ALL. That is a value about two times higher than that of 2013. However, it can be stated that the highest value of deposits in foreign banks was achieved in 2008 when this value amounted 58.8 billion ALL.
According to the gold deposited in the foreign banks by the Albanian state, for 2013 this amount constitutes a value equivalent to 8,474,000,000 billion ALL. This category includes non-monetary gold, platinum and silver valued at the fixed exchange rate of London at the reporting date.
Source: Bank of Albania
Comments and analysis: ODA
Interesting is the way how the Bank of Albania has increased the value of liquidity in foreign currency. Specifically in 2007 this value was only worth four million ALL, to mark the value of 1.06 billion ALL in the next year. In 2013, the foreign currency liquidity has recorded a value of 40 million ALL.