Governor Radović meets with outgoing German Ambassador: CBCG as an example of an institution committed to Montenegro’s EU path
22/07/2026
The Governor of the Central Bank of Montenegro, Dr Irena Radović, received the outgoing Ambassador of Germany to Montenegro, H.E. Peter Felten, for a farewell visit. The Governor and the Ambassador discussed the results of their cooperation to date, Montenegro’s European integration process, and opportunities for the further strengthening of cooperation between the Central Bank of Montenegro and German institutions.
Governor Radović thanked Ambassador Felten for the excellent cooperation and continuous support that Germany has provided to Montenegro during his mandate. She emphasised that Germany is one of Montenegro’s most important partners on its path towards the EU, particularly in strengthening institutional capacities and implementing financial sector reforms.
She expressed particular gratitude for the contribution of Deutsche Bundesbank to the implementation of the Needs Assessment project, which evaluated the CBCG’s needs for its full future integration into the European System of Central Banks (ESCB) and the Eurosystem. The engagement of Bundesbank experts, together with the Dutch and Belgium central banks as well as other ESCB partners, provided significant support in developing a strategic roadmap for further institutional transformation of the Central Bank of Montenegro.
During the meeting, Governor Radović presented the progress achieved by the CBCG in the European integration process, including activities aimed at aligning with the EU acquis in the negotiation chapters within its remit, strengthening the regulatory and supervisory framework, as well as modernising payment infrastructure through the successful implementation of SEPA standards, and the introduction of the European instant payments system (TIPS Clone) on the previous day.
Ambassador Felten assessed that Montenegro’s European future is certain, emphasising that the CBCG is an example of an institution that has demonstrated a clear, consistent and operational commitment to advancing Montenegro’s European integration process.
“Over the past three years, under the leadership of the Governor Radović, the Central Bank has achieved excellent results, including full alignment with the EU acquis, accession to the SEPA area, and the introduction of the TIPS Clone system, bringing concrete benefits to both citizens and the economy,” said Felten, adding that Montenegro’s recognised progress in the area of anti-money laundering and terrorist financing demonstrates the quality and credibility of the Central Bank’s supervisory work.
“A strong and independent central bank is a prerequisite for a stable financial system, and such institutions are precisely what the European Union expects from future member states,” the Ambassador stated.
At the end of the meeting, Governor Radović thanked Ambassador Felten for his personal contribution to strengthening relations between Montenegro and Germany, his support for reform processes and the European integration of Montenegro, wishing him success in his further diplomatic career.
The meeting was also attended by Enis Čindrak, economic Policy Advisor at the Embassy of the Federal Republic of Germany.