Challenges ahead

As we enter the last quarter of the year we find ourselves faced with new challenges and projects to strengthen the Andorran financial sector even more. One of the most relevant regulations that has been applied this 2019, the results of which we will see in the first quarter of 2020, is the law on solvency, liquidity and prudential supervision. The transposition of the CRD IV pack of directives will provide more resilience to the financial sector to continue financing the economy and the growth of the country. This law also ensures a better position of the banking entities when facing economic crisis thanks to the improvement of the levels of own funds. As of 2020, the Andorran banks’ data will be fully standardised.

Xavier Espot, Head of Government

Another relevant matter has been the election of the new Government of Xavier Espot last May, which has set the ambitious goal of strengthening and diversifying the economy as well as continuing the negotiations of the Association Agreement with the EU with determination. These are open fronts which will require dedication and involvement from all economic sectors, especially the banking one, but which at the same time entail new exciting opportunities both for the financial sector and for the country.

Presentation of the Report of the Andorran Chamber of Commerce

The Andorran Chamber of Commerce, Industry and Services has presented its 2018 economic report where it stresses that the Andorran economy has grown for its 6th year in a row. Furthermore, it presents 10 recommendations to tackle future challenges such as the preparation of a strategic plan to promote a competitive and sustainable economy.

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Emmanuel Macron’s visit

On the 13th of September, Andorra’s citizens had the pleasure of receiving the visit of Emmanuel Macron, Co-prince of the Principality of Andorra. He was received with enthusiasm in his visit to the 7 parishes, where he grasped the economic and social changes of the country first-hand. In the course of his institutional visit, President Macron centred his discourse in the defence and support of the negotiations of the Andorran agreement with the EU, understanding that “For Andorra, choosing Europe is the choice of the future as it will help with the transformation its economic model is undertaking towards transparency, diversity and openness”. He also asked for the rebalancing of the economic relations with France. In all, he advocated for the historical past of Andorra and showed his confidence in the future of the Andorran institutions and its people.

Banking Management postgraduate

Andorran Banking along with the University of Andorra, have organised a new edition of the Banking Management postgraduate. This programme offers the necessary tools to meet the demands posed by the financial market in an efficient manner.

La Vuelta 2019

On the 1st of September, Andorra held the 9th stage of la Vuelta with a sterrato trench. The cycling dreamlike surrounding is home to Egan Bernal, the Tour de France 2019 champion.

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