Žugić-Šeldon: Continuation of successful cooperation between the CBCG and the World Bank

The World Bank and the Central Bank of Montenegro (CBCG) have a very successful cooperation, which will be further improved in the coming period, it was stated at today's meeting of the head of the World Bank Office for Montenegro and Bosnia and Herzegovina, Christopher Sheldon, with the governor of the CBCG, Radoj Žugić.

The CBCG announced that Žugić thanked the representative of the World Bank for the continuous support that institution provides to the Central Bank, primarily in the form of technical assistance for activities aimed at modernizing payment transactions. Sheldon, they add, also announced the support of the World Bank to the Central Bank in terms of applying international standards and best practices in the field of banking supervision and rehabilitation.

As it was announced, the interlocutors also discussed the economic situation in Montenegro and emphasized the need to remedy vulnerabilities in the fiscal sphere, primarily curbing the growth of public debt, as well as encouraging the real sector, which is the driving force of economic development.

"The meeting also discussed the upcoming participation of the Montenegrin delegation at the Annual Meetings of the World Bank and the International Monetary Fund in Washington, as well as the organization of the meeting of the Belgian-Dutch constituency, which will be hosted by Montenegro in May," the announcement concludes.