CBCG's Intensive Cooperation with the Bundesbank
05/07/2024
The CBCG Governor, Ms Irena Radović, met today with the Director of the Centre for International Central Bank Dialogue of the Deutsche Bundesbank (DBB), Mr Martin Dinkelborg and his advisor, Mr Peter Spicka.
The Governor presented the most important results of the CBCG and the priorities for the next period related to preserving financial stability, further harmonising the regulatory framework with EU legislation, and modernising the payment system. She particularly highlighted the CBCG’s commitment to the fulfilment of Montenegro’s strategic goal - joining the European Union, through participation in the work of ten working groups for negotiation chapters, three of which it manages (4 - Free movement of capital, 9 - Financial services and 17 - Economic and monetary policy). The Governor also informed that the CBCG recently submitted to the European Payments Council (EPC) a formal request for Montenegro to join the Single Euro Payments Area (SEPA).
During the meeting, it was noted that the previous cooperation between the Bundesbank and the CBCG was very successful and fruitful. Thanks to the cooperation and continuous support the Bundesbank provided to the CBCG, the Governor emphasised the importance of strengthening international partnerships and dialogue. “International technical cooperation is the main instrument for exchanging knowledge and experience between central banks. The cooperation with the Bundesbank, as one of the most developed central banks in Europe and the world, is extremely important for the CBCG, especially in accelerated preparations for EU membership,” said the Governor.
In this segment, a particularly important is the regional IPA project Programme for Strengthening the Central Bank Capacities in the Western Balkans with a view to the Integration to the European System of Central Banks, whose Phase II implementation is ongoing. As the project coordinator, together with partner central banks of the ESCB, the Bundesbank organises intensive regional workshops on key central banking topics and enables direct bilateral cooperation between project participants.
Both institutions confirmed their willingness to continue cooperation and their joint engagement in further improving the capacities of the CBCG to reach the highest standards in central banking.