Radović: The Central Bank of Montenegro remains continuously committed to implementing reforms

The Governor of the Central Bank of Montenegro, Irena Radović, met in Brussels with senior EC officials: Director General of the Directorate-General for Financial Stability, Financial Services and Capital Markets Union (DG FISMA), John Berrigan, and Director General of the Directorate-General for Economic and Financial Affairs (DG ECFIN), Annika Eriksgaard.

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Photo: CBCG
Photo: CBCG
Disclaimer: The translations are mostly done through AI translator and might not be 100% accurate.

The Central Bank of Montenegro (CBCG) remains committed to implementing reforms that will ensure the stability, transparency and compliance of the financial system with best European practices, its Governor, Irena Radović, announced at a meeting with senior representatives of the European Commission (EC).

She said that the Central Bank of Montenegro is committed to implementing reforms aimed at creating the foundation for sustainable economic growth and full membership in the EU, as well as preparing for the bank's future membership in the European System of Central Banks (ESCB).

Radović met today in Brussels with senior EC officials: Director General of the Directorate-General for Financial Stability, Financial Services and Capital Markets Union (DG FISMA), John Berrigan, and Director General of the Directorate-General for Economic and Financial Affairs (DG ECFIN), Annika Eriksgaard.

Irena Radović
photo: CBCG

At the meeting, Radović presented the key activities and priorities of the Central Bank of Montenegro in the field of European integration, with a special focus on the integration of the Montenegrin financial system into the European regulatory and infrastructure framework.

The Central Bank of Montenegro was commended at the meeting for the progress achieved in harmonizing the regulatory framework with EU standards, strengthening institutional capacities, modernizing payment systems, and the successful integration of Montenegro into the Single Euro Payments Area (SEPA).

Radović emphasized the importance of these processes for strengthening the competitiveness, security and efficiency of the financial system, and accelerating Montenegro's economic convergence with the EU.

EC representatives expressed full support for Montenegro's reform efforts in the area of ​​finance and monetary policy, and stressed the importance of continued dialogue and cooperation between the Central Bank of Montenegro and relevant EU bodies.

As part of the visit to Brussels, the CBCG delegation also met with representatives of the central banks of Belgium and the Netherlands, with whom they discussed its further strengthening through organizational and functional transformation with the aim of full alignment with the standards and principles of the ESCB.

Interlocutors from the central banks of Belgium and the Netherlands said that they are ready to continue intensive cooperation and concrete projects that will be implemented in the Central Bank of Montenegro in the coming period, in partnership with Eurosystem banks.

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