Cooperation within the Constituency the way towards creating better quality policies
06/02/2024
„Cooperation, partnership and mutual support within the Constituency contribute to improving the quality of macroeconomic, monetary and fiscal policies of individual member countries, thus strengthening the basis for their more dynamic economic growth and development“. This is the message from today`s meeting of the Governor of the Central Bank of Montenegro, Ms. Irena Radović with Alternate Executive Director of the Belgium-Dutch Constituency in the IMF, Mr. Luc Dresse.
The Governor Radović thanked Mr. Dresse on his objective representation of Montenegro`s interests in the IMF, praising also the ongoing IMF support to the CBCG. During the meeting, the Governor presented the main trends in the banking system of Montenegro, highlighting that the banks have remained stable, liquid and with good business parameters.
Thanking on the hospitality and cooperation so far, Mr. Dresse communicated the IMF`s willingness to continue supporting the CBCG and Montenegro in improving the macroeconomic environment and preserving financial stability in the country. He also welcomed the recently adopted Amendments to the Central Bank of Montenegro Law which additionally strengthened the institution`s independence. “We encourage the strengthening of independence of central banks, which ensures the protection of the decision-making process of monetary authorities from political influences and, at the same time, improves the credibility and stability of the financial system," said Dresse.
The Governor Radović also informed Mr. Dresse about activities taken by the CBCG on further improvement of the national legislation and the strengthening of the institution`s personnel capacity, emphasizing thereby that a continued technical assistance with the IMF in the areas of supervision and AML/TF would be of extreme importance for the CBCG.
Montenegro is a member of the Belgium–Dutch Constituency, which represents our country’s interests together with those of Andorra, Armenia, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Georgia, Israel, Luxembourg, Moldova, North Macedonia, Romania and the Ukraine.