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12/05/2017

The Central Bank of Montenegro Governor, Radoje Žugić, Phd with his associates met with the World Bank delegation headed by Ms Tatiana Proskuryakova, the World Bank Country Manager for Montenegro and Bosnia and Herzegovina.

The possibilities of arranging budgetary support programme for Montenegro were discussed at the meeting. To that effect, activities and measures needed to be implemented with the aim of making the arrangement concrete were also considered.

When it comes to the activities under the CBCG competence, full agreement was accomplished and a timeline for implementing measures, soon to be formally harmonized was agreed, primarily relating to further strengthening of regulatory framework, assessment of assets quality, introduction of the European standards and implementation of best practices. 

The Governor Žugić praised the fiscal consolidation plan prepared by the Ministry of Finance, expecting the World Bank to recognize the Government commitment to implementing the plan by authorizing the budgetary support programme.

The Governor also pointed out that the CBCG will fully contribute to reaching the agreement on the budgetary support programme through carrying out the agreed activities that represent continued efforts in improving financial stability.