The independence of the Central Bank of Montenegro (CBCG) is one of the key elements in the process of closing economic chapters, as it ensures transparency, responsibility and trust in the financial system, said the Director General of the Directorate for Neighborhood and Enlargement Negotiations, Hert Jan Kopman.
A meeting of Governor Irene Radović and her associates with the delegation of the European Commission (EC), led by Kopman, was held in CBCG.
Radović thanked Kopman for the EC's continuous support through regular dialogues and numerous technical support programs.
"Special emphasis was placed on the importance of this support in achieving a high level of harmonization with European Union (EU) regulations and improving the institutional framework of the CBCG, in accordance with the standards and guidelines of the European System of Central Banks (ESCB)," the CBCG announced.
Radović pointed to the activities carried out by the CBCG as part of preparations for consolidation and organizational transformation of the institution, creating preconditions for future integration into the Eurosystem.
She informed Kopman about the realized and planned activities in the chapters under the jurisdiction of the CBCG, in order for Montenegro to fulfill its obligations in accordance with the dynamics of the EU agenda.
"The importance of the joint institutional action of the CBCG, the Government and the Assembly in dynamizing activities in the area of harmonizing domestic regulations with the EU legal acquis was praised and highlighted," the announcement states.
One of the key topics of the meeting was, as announced, the submission of the official application for the accession of Montenegro to the Single Payment Area in Euros (SEPA).
Kopman praised the achieved results of the CBCG and expressed the EC's support for Montenegro's entry into the new phase of negotiations, which implies the beginning of the process of closing the negotiation chapters.
He emphasized the importance of the independence of the CBCG as a foundation for preserving macroeconomic stability and the successful implementation of comprehensive reforms.
According to him, the independence of the CBCG is one of the key elements in the process of closing economic chapters, as it ensures transparency, responsibility and trust in the financial system and represents one of the key pillars on which the further progress of Montenegro is based on its path to full membership in the EU.
The CBCG said that both sides agreed that joint cooperation is key to speeding up Montenegro's European path.
"CBCG is encouraged to continue intensive work on fulfilling its obligations within the stipulated time frames, which will further contribute to the fulfillment of the strategic goal of Montenegro - membership in the EU," the announcement states.
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