Meeting of the CBCG Governor and the IMF Alternate Executive Director

17/07/2018

The Governor of the Central Bank of Montenegro, Mr Radoje Žugić, and his associates met today with Mr Richard Doornbosch, the Alternate Executive Director of the International Monetary Fund (IMF).

The issues discussed at the meeting today covered the current economic situation in Montenegro, particularly focusing on the banking industry. The Governor Žugić introduced Mr Doornbosch with the banking performance indicators, which continued their positive trending initiated in the previous year. With the growth of credit activity and deposits, liquidity and solvency levels remain above the statutory minimum, while non-performing loans and interest rates continue trending downward, especially in case of corporate loans.

The Governor also highlighted intensive regulatory activities of the CBCG, aimed at aligning with EU directives, introducing best practices, and strengthening supervisory functions.

Mr Doornbosch expressed his appreciation to the CBCG for the cooperation so far, expressing the IMF’s willingness to continue supporting Montenegro in the further improvement of its fiscal and financial stability.