Slovakia and Montenegro to boost economic cooperation


The Governor of the Central Bank of Montenegro, Mr. Radoje Žugić, met today with the Ambassador of the Slovak Republic to Montenegro, Mr. Boris Gandel.

The counterparties agreed that Slovakia and Montenegro have excellent overall relations and excellent bilateral cooperation. Governor Žugić thanked the Ambassador of Slovakia for this country’s support to Montenegro in the European and Euro-Atlantic integration process.

During the meeting, they discussed the Covid-19 pandemic challenges of all countries and the consequences of the situation for the real economy and public finance.

The Governor informed the Slovak Ambassador about the current situation in Montenegro’s banking sector, emphasizing that the system has maintained stability, good capitalization and liquidity. Still, the Covid-19 pandemic affected certain indicators of banking operations, primarily profitability and the level of non-performing loans. “During the previous seven months, the CBCG implemented four packages of measures, acting primarily on preserving the banks’ liquidity and growing their potential for new lending. The CBCG also acted on the transfer of liquidity from the financial system to the economy and citizens,” said Governor Žugić.

In a friendly and constructive discussion, both sides expressed interest in further strengthening economic cooperation and in affirming future joint projects.