Governor Žugić at the Constituency’s High-Level Conference

10/02/2023

The CBCG Governor Radoje Žugić is participating in the high-level Annual Conference of the Belgian-Dutch Constituency of the World Bank and the International Monetary Fund in Amsterdam.

The topic of this year’s Conference, “High level conference – Macroeconomic challenges in a world with geopolitical tensions, high inflation and rising inequalities”, brought together senior World Bank and the International Monetary Fund officials, governors of the Constituency member state central banks and numerous experts from various sectors. The speakers at the Conference were, inter alia, the IMF Director General Kristalina Georgieva and former NATO Secretary Jaap de Hoop Scheffer.

The Conference was organised through several panels, where the speakers discussed geopolitical tensions, high inflation, the energy crisis and other challenges in the current macroeconomic situation. The necessity of coordinated action by governments and central banks was noted to curb high inflation while preserving financial stability.

“Price stabilising requires a combination of monetary and fiscal policy measures, and Montenegro, with limited fiscal possibilities, has to must lead a prudent monetary policy based on the application of macroprudential measures influencing the lending activity timeline over a specific period, and thereby indirectly also on demand, that is, prices,” said Governor Žugić in discussion with the IMF Director Georgieva.

The Conference also discussed topics that will be part of the annual Constituency Assembly meeting agenda hosted by Montenegro this May.