Montenegrin delegation at the Spring Meetings of the IMF and the World Bank
13/04/2019
Delegation of Montenegro, led by the Minister of Finance Mr Darko Radunović and the Governor of the Central Bank of Montenegro, Mr Radoje Žugić, is participating at the Spring Meetings of the IMF and the World Bank. Delegation met with several senior officials of these two institutions, as well as with representatives of international banking institutions discussing the strategy of public debt management in the next two years, international investors and rating agencies.
Delegation participated at the meeting of the Dutch-Belgian Constituency, where the latest macroeconomic trends in the world were presented. The IMF presented the program of member states' quota revision.
The macroeconomic environment in Montenegro was presented at the meeting with the head of the IMF mission for Montenegro, Srikant Seshadri. Governor Radoje Žugić pointed out that, despite the resolution of two non-systematic banks, system-level indicators indicate positive performance, characterized by high solvency ratios, high liquidity and a further decline in non-performing loans. It was emphasized that the future activities of the CBCG are focused on its institutional strengthening, through improving the capacity of the framework for the prevention of money laundering and terrorist financing, the implementation of the assets quality review of banks and the work on improving the payment system. Minister of Finance Darko Radunović emphasized reduction of the budget deficit in 2018 compared to the previous year and a commitment to continuing the implementation of fiscal consolidation measures. Particularly discussed was the reform of tax policy and the strengthening of the framework for the implementation of public-private partnerships.
The CBCG has signed a memorandum of understanding with the National Bank of Ukraine, which creates conditions for further improvement of cooperation, especially in the area of money laundering prevention.
Delegation of Montenegro met with the management of the Centre for Excellence in Financial (CEF) on the occasion of taking over the presidency over this organization in the next year.