The International Monetary Fund (IMF), in a study published recently, has ranked Albania the 107th out of 183 countries in the World Financial Development Index, the Albanian Daily News newspaper reported on Friday.
The countries listed in the study were classified into different groups each marked by a color code, according to which red represented countries with the lowest level of financial system development, and blue the highest.
Albania is among the red. In Albania, the financial system remains dominated by traditional banks, where modern tools have barely been introduced. The Balkan country is also the only one in the region that does not have a stock exchange.
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