Alimuça: The money the bank gives us isn’t even enough for tomatoes pages 2, 6, 7, 9

The main news occupying a prominent place in yesterday’s Albanian newspapers was the “escape” of 130 million dollars from Albania. Interest in this news was multiplied by several factors. First, such a sum can be considered sensational even in countries with a large circulation of money, let alone Albania. Second, the announcement of this currency flight came on the eve of 15 January, when two troubled pyramid-scheme companies had announced that they would reopen their counters. Third, such news was reported by the radio station “Voice of America,” and by the same correspondent who, only two days earlier, had been reported to have links to the disappearance of a highly valuable painting from the editorial office of the newspaper RD. Such an amount of foreign currency is equal to half of Albania’s budget deficit during the previous year, or to the aid Albania received in 1991. But 130 million dollars also comes close to the amount of money that the two finance companies that have “cracked,” “Sudja” and “Gjallica,” must return to their creditors. The way this news was presented initially raised doubts about its truthfulness. The initial version stated that the 130 million dollars had been taken out of Albania by speedboat, in the same way as illegal migrants leave. But, considering both the value and the volume, as well as any other parameter, hardly anyone could believe that 130 million dollars could be taken across the sea in a simple speedboat. For this reason, of course, the creators of such a legend put out a reserve version for public consumption, according to which the colossal sum had escaped Albania by sea in a white van aboard the scheduled ferry linking Vlora with Otranto. But this version was not at all convincing either. In both cases, the hypothesis that so many dollars had been taken out illegally becomes unbelievable, bearing in mind not only the risk factor of transporting them by sea, but also the recent activity of the Albanian police under the direct leadership of Minister Shamata. On the other hand, this large amount of foreign currency is said to have been headed for Italy, a country where strict laws are known to exist and are also rigorously enforced. Much has recently been said about money laundering in Albania, which has also been linked to the operation of lending companies; but in this case, it is just as implausible that dollars or any other foreign currency enter Albania as it is that 130 million dollars leave Albania. The main point is that by making this news public on the eve of the resumption of operations by some of the bankrupt pyramid companies—specifically, bonds such as those of “Shteiti,” known under the cover of “Kompetenti”—the state is behind everything. But it cannot be ignored that the state, bearing in mind that this news was first broadcast by “Voice of America,” has tried to strengthen the position of its man, who works for this radio station. In this case too, the 130 million dollars are worth far more than a piece of painted cloth. Ultimately, the person who dealt the “coup de grâce” to this story was Minister Shamata himself, perhaps the only person who, through the regime’s transparent compensation—through his compensation—made such news disappear.

“Kamberi” and “VEFA” to become private banks soon Last night, the Governing Board of the Albanian Central Bank gave preliminary approval to license only the companies “Kamberi” and “VEFA” as private banks. There is still no assurance as to whether the others will survive the phenomenon of the rush on deposits that has affected the pyramid schemes. According to a source inside the office of the Governor of the Central Bank of Albania, these two companies have stronger guarantees. Photo: A. Baban

Photo: A. Baban