Governor Radović Meets the BCL Governor

03/07/2025

CBCG Governor Irena Radović visited the headquarters of the Banque Centrale du Luxembourg (BCL), where she met with Governor Gaston Reinesch.

During the meeting, the governors exchanged opinions on current global economic and financial trends, with special reference to the challenges affecting the central banks operations. They discussed the possibilities for improving bilateral cooperation between the two institutions, focusing on the financial system’s supervision, digitisation and strengthening central banks’ institutional capacities of in the context of increasingly complex global challenges.

Governor Radović pointed out that cooperation with the BCL, as a member of the ESCB, is of particular importance since the CBCG is actively preparing for future membership in the ESCB.

“The exchange of knowledge, experience and good practice with the institutions that are part of the Eurosystem significantly contributes to strengthening the CBCG’s regulatory and supervisory framework and to its institutional modernisation. Moreover, the cooperation with Luxembourg has a special value because we share the characteristics of small and open economies, which are particularly sensitive to external shocks and therefore require strong institutions and a resilient financial infrastructure,” said Governor Radović.

The governors expressed mutual readiness for further cooperation and mutual support in the reform processes and strengthening the resilience of the financial system.

Governor Radović is in Luxembourg to participate in the regular annual of the IMF and the World Bank Constituency meeting, which takes place from 2 to 4 July 2025 and brings together governors of central banks and finance ministers of the Constituency member countries and senior officials of international financial institutions.