In recent years, Albania has experienced a sustained appreciation of the domestic currency. This raises the questions of what factors are driving this appreciation and how to calibrate appropriate ...

Over the past decade, the Albanian banking sector has undergone a remarkable transformation amid strong macroeconomic performance and sound financial reforms. Nevertheless, pockets of vulnerability ...

Destination substitution, whereby stricter policies in the intended destination divert people to other places or leave them stranded in transit. Categorical substitution, whereby tighter policies for ...