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Albanian Times, May 6, 1996
From: Albanian Times <AlbaTimes@aol.com>
CONTENTS
[01] Albanian Bourse-A Link to World Market, Official Says
[02] Italian Firms to Build Tourist Villages
[03] Lek's Value Falling
[04] Rights Group Protests Foreign Interference
[05] Government Denies Socialist Claim on Violent Attack
[06] 80 Years Old Land Mines Unearthed in Albania
[01] Albanian Bourse-A Link to World Market, Official Says
TIRANA, May 3 - Albania's central bank governor Kristaq Luniku said the
country's new stock exchange would give an impetus to economic reform and
provide a link to capital markets abroad. ``It will...strengthen the
treasury bill market by making the flow of capital for mass privatisation
easier and ensuring important links for the Albanian economy with
international capital markets,'' Luniku said in a speech on Thursday. The
governor said the bourse would be an important source of information for
investors and the business world and it would serve as an efficient way for
the government to keep inflation at moderate rates. He gave no details.
Albania's inflation rate in 1995 was 6.01 percent. Albania's first stock
exchange opened in Tirana on Thursday, marking a further step in the
transition of Europe's poorest economy to a free-market system. The bourse
will trade treasury bills, securities and privatisation vouchers as well as
foreign exchange. It will have two weekly sessions, on Mondays and
Thursdays. (Albanian Times/Reuters)
[02] Italian Firms to Build Tourist Villages
Two Italian companies have plans to build tourist villages in Ksamil,
southern Albania. STT and Torcello Holding said the two tourist villages
that will flank each-other will offer about 1,000 beds and will be complete
with sweaming pools, golf courses and a boat area. The construction, a $35
million investment, is expected to last three years and will employ 300-400
local people. (Albanian Times)
[03] Lek's Value Falling
The Albanian Lek has reached its lowest value in exchange with other
currencies since 1992. Last week, one US dollar was exchanged at 110 Leks
down from about 100 Leks more than a month ago. The Lek's value has been
low since the beginning of May, an unexpected drop after 4 years of
relative stability. Analists blame the fall on the new monetary
relationships emerging in the country and the political insecurity ahead of
the national elections. Many traders are dumping leks in exchange of more
stable foreign currencies. In February Albania's central bank intervened
after the Lek demonstrated similar weaknesses, but the currency rebounced
quickly to previous levels. At that time, officials played down the
fluctuation of the Lek, expressing confidence that last year's low
inflation was a guarantee to stability in the currency market. Albania's
inflation rate in 1995 was 6,01 percent, down from a forecast 10 percent
and the budget deficit is said to be under control. (Albanian Times)
[04] Rights Group Protests Foreign Interference
TIRANA, May 5 - Albania's Helsinki Committee has protested statements by
visiting foreign personalities as election support for the ruling
Democratic Party. The human rights group said their speeches on the
Democrats' campaign trail contravened Albania's electoral law which
prohibits ``persons not holding Albanian citizenship from conducting an
election campaign.'' The group was referring to Michel Pericard,
parliamentary head of France's ruling Rally for the Republic (RPR), who has
publicly expressed support for the ruling Democrats ahead of May 26
elections. Democratic Party chairman, Tritan Shehu defended Pericard's
visit. Mr. Pericard told reporters on Sunday the criticism would not end
his support for the conservative ally's struggle against a communist
resurgence in Albania. Last week he spoke at rallies for Albanian President
Sali Berisha's Democratic Party. ``The practice of conducting the political
debate by engaging personalities from abroad runs counter to Albanian
law,'' the rights watchdog said in a statement. Pericard told reporters he
was amused by the Helsinki Committee's statement. ``The participants in the
rallies understood very well that I was French and this didn't bother
them,'' he said. ``Democracy means respect and tolerance and this means
that no one can be banned from speaking.'' "If coming out of communism one
day means returning to it the next, then this would be a fatal defeat for
all of Europe,'' Pericard said. Albania has been visited recently by
several high personalities, including Italian President Oscar Luigi
Scalfaro and former German President Richard von Weiszaecker, all
expressing support for the Democratic Party's government. (Albanian
Times/Reuters)
[05] Government Denies Socialist Claim on Violent Attack
TIRANA, May 4 - The Albanian government on Saturday denied an opposition
Socialist Party claim it had instigated a violent attack by plain-clothed
police against leaders of the rival party ahead of elections on May 26. The
Socialists said plain-clothed police hurling stoned had smashed car windows
in a convoy carrying party leaders to a rally in Burrel, 100 km (60 miles)
northeast of Tirana. But an interior ministry spokesman denied the claims,
saying the Socialists had twisted the truth to incriminate police and the
government of President Sali Berisha. ``The Socialist Party has distorted
the events according to their taste,'' said the ministry statement, carried
by the official ATA news agency. ``Accompanied by their illegal bodyguards,
(the Socialists) broke road traffic rules and called passersby ``fascists'
and ``dogs', and this led a group of children bewildered by their actions
to stone the rebel cars,'' the spokesman said. The Socialist Party accused
the government of instigating the violence which they said injured several
people and left a driver in serious condition. They said they had filed a
legal complaint. (Albanian Times/Reuters)
[06] 80 Years Old Land Mines Unearthed in Albania
TIRANA, May 4 - Albanian police unearthed 200 landmines dating back over 80
years to the Austro-Hungarian empire, the daily Gazeta Shqiptare reported
on Saturday. Construction workers had found the mines buried at a depth of
one and a half metres in central Albania. ``Even an amateur could see the
mines were very old and had become completely rusty from such a long time
under ground,'' it said, adding they were still dangerous and could
explode. An inhabitant of Kavaja, 50 km (31 miles) west of Tirana said his
father had bought the mines from the Austro-Hungarian army early this
century, using their bronze and lead parts for his trade, the paper
reported.
The material was reprinted with permission of AlbAmerica Trade & Consulting
International. For more information on ATCI and the Albanian Times, please
write to AlbaTimes@aol.com
Copyright © ATCI, 1996
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