Albania - First Republic

After the Albanian independence in 1912, the country went through a long and turbulent period. Many internal struggles and external interventions made it difficult to establish a stable state. Into this chaotic situation entered the stage Amet Zogu, who became the country's plenipotentiary president in 1925. Zogu, a charismatic and ambitious politician, was successful in uniting the country's various tribes and clans. In 1925, the Albanian parliament elected him plenipotentiary president of the country. This step significantly strengthened the central power and started the process of modernization of the country. In 1928, Zogu, taking advantage of the favorable internal political situation, proclaimed a monarchy and became King of Albania under the name Zog I. However, this step did not mean the complete end of the republic, as the new state preserved many republican institutions. Zogu's government was highly centralized, with most of the power concentrated in the hands of the president. The new leadership placed great emphasis on the modernization of the country, the development of infrastructure, education, and the reorganization of the army. Under Zogu's rule, relative stability was established in Albania, which allowed for the development of the economy and the settlement of foreign relations. Zogu's government showed authoritarian features, political opponents were suppressed, and the press was censored. The period between 1925 and 1928 was a key period in the history of Albania. Under Zogu's rule, the country managed to emerge from chaos and establish a modern, centralized state. Although Zogu's rule was authoritarian, it still contributed to the stabilization and development of the country. Zogu's rule lasted until 1939, when Italy invaded Albania. The king was forced into exile and only returned to his homeland for a short time after World War II. The First Albanian Republic was a short but significant period in the country's history. Under the leadership of Amet Zogu, Albania moved towards a modern, centralized state, but the country's fate was under the influence of external forces, and World War II brought further turmoil.

During the First Republic of Albania (1925-1928), minting and monetary policy played an important role in stabilizing the country's economy. The National Bank of Albania, established in 1925, was responsible for managing financial policy, and during this period the Albanian gold franc was introduced in the country. During the First Republic, the main objective of monetary policy was to stabilize the economy and support the independent Albanian currency. The country's economy was still weak during this period, and the government took several measures to improve the economic situation, including tightening tariffs and foreign trade restrictions.