Governor Žugić visits the Central Bank of Bosnia and Herzegovina

04/03/2021

The Governor of the Central Bank of Montenegro (CBCG), Mr Radoje Žugić, paid an official visit to the Central Bank of Bosnia and Herzegovina (CBBH) today. In a conversation with the CBBH Governor, Mr Senad Softić, he exchanged information on the COVID-19 pandemic impact on the financial system, real economy, and households.

The Governors discussed the activities of Montenegro and Bosnia's central banks and Herzegovina in the pandemic conditions. They emphasised that both countries' banking sectors have preserved stability and that liquidity and solvency at the system level were satisfactory. They agreed that every crisis, including this one, should be used for faster changes for the better. The finances digitalisation trend, which often means increasing the financial services efficiency, has been going on for some time. Still, the coronavirus pandemic has significantly accelerated it. There are many new technologies. It is crucial to ensure that they contribute to the population's well-being and sustainable growth.

The cooperation between the two central banks was assessed both bilaterally and multilaterally successful. The central banks of both countries are members of the Club of Governors of Central Asia, the Black Sea and the Balkans, and the Dutch-Belgian constituency of the International Monetary Fund and the World Bank. They exchange information on current economic and financial topics in the member states.

The Governors expressed a mutual desire to continue the successful cooperation between the two monetary institutions.