Governor of the CBCG meets the Ambassador of Italy

04/12/2020

The Governor of the Central Bank of Montenegro, Mr Radoje Žugić, met today with the Ambassador of the Republic of Italy to Montenegro, Mr Luca Zelioli.
The interlocutors exchanged views on the Coronavirus pandemic and its health, economic and social consequences. Special attention was paid to the economic situation in Montenegro and visions of its recovery and development in the coming period.

The Governor informed the Ambassador of Italy about the CBCG results and plans on preserving financial stability and presented the performance indicators of the banking sector in the crisis conditions. “Owing to the good performance from the previous period, and adequate and carefully designed measures of the CBCG, the banking sector managed to preserve stability and contribute to resolving the pandemic consequences by supporting the real sector and population’s liquidity”, said Žugić. The Governor also informed the Ambassador about the activities on the asset quality review implementation and the preparation of bylaws, which are a precondition for implementing the Law on Credit Institutions and the Law on Resolution of Credit Institutions.

Welcoming the achieved results, the Ambassador pointed out that the role of the central bank in unstable economic conditions, such as the current ones, is crucial. He added that he believed it was necessary to establish the best possible cooperation with the new government to find all possible solutions for further strengthening the country in the difficult global financial situation caused by the tragic effects of the pandemic.