Governor Žugić Meets the Head of the IMF Regional Office for the Western Balkans


09/03/2023

The CBCG Governor Radoje Žugić met today with Stephanie Eble, the Head of the IMF Regional Office for the Western Balkans.

During the meeting, they discussed the overall economic situation in Montenegro with a special focus on the banking sector and the upcoming CBCG policy transparency code audit.


Governor Žugić informed Ms Eble of the CBCG activities to strengthen further the country’s financial stability, such as taking adequate measures to mitigate the aftermath of an unfavourable economic situation, fostering banks to support domestic economy, and strengthening supervisory capacities.


Moreover, Governor Žugić informed Ms Eble that the trust into the banking system resulted in key banking indicators at their historical maximum, stating that deposits in 2022 increased by more than a billion euros over the last year, and that the share of new loans in 2022 recorded annual increase of 31.5%.


The Head of the IMF Regional Office for the Western Balkans welcomed the CBCG activities and the initiative to evaluate the transparency of its policies, which the IMF will implement in June.


The interlocutors agreed that the audit would contribute to the CBCG implementing the highest international standards of transparency and strengthening the dialogue with the external public, including the highest state and international institutions, the media, and the NGO sector.