Governor Radović at the BIS Annual Meeting: Trade Tensions and Digital Transformation in the Focus of Discussions
30/06/2025
The CBCG Governor, Irena Radović, attended the Annual General Meeting of the Bank for International Settlements (BIS), held in Basel from 28 to 29 June.
The topics of the meeting, which brings together the governors of central banks that are members of the BIS and other central banks, and representatives of the international financial community, were discussions on the main findings from the annual economic report of the BIS. It was especially highlighted that “trade tensions and uncertainty overshadow the global economy”, which requires careful calibration of central bank policies.
It also included discussions on current topics related to the transformation of the financial system through digitisation, the challenges arising from the application of artificial intelligence, and the regulation and resilience of financial markets.
A part of the session in Basel was a round table dedicated to cross-border and instant payments to discuss the possibilities of strengthening international cooperation in order to improve the efficiency and security of cross-border transactions and encourage financial inclusion.
Governor Radović noted that, in the context of growing geopolitical fragmentation and digital inequalities, the interoperability of payments is a strategic imperative. She highlighted the importance of building an inclusive infrastructure that supports long-term resilience and economic growth, especially in smaller and open markets like the Western Balkans.
In this context, the Governor recalled the initiative implemented by the CBCG to introduce a national platform for instant payments - TIPS-clone, in cooperation with the Banca d’Italia and with the support of the European Central Bank. She pointed out that this modern infrastructure will enable faster, safer and cheaper transactions, thus supporting the competitiveness and availability of financial services to citizens and the economy, as an additional integration of Montenegro into the EU’s financial ecosystem.
The BIS, founded in 1930, is the oldest international financial institution. Its mission is to promote monetary and financial cooperation between central banks around the world. CBCG continues to actively participate in the work of BIS and relevant international forums, contributing to regional and European integration through modernization and institutional building.