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11/07/2017

The Central Bank of Montenegro Governor, Mr Radoje Žugić, PhD, participates at the international conference „Reaccelerating Convergence in Central, Eastern and Southeastern Europe – The Role of Governance and Institutions” being held in Dubrovnik, and organized by the International Monetary Fund and the Croatian National Bank.

The conference is attended by Ms Christine Lagarde, the Managing Director of IMF as well as a large number of other senior IMF, World Bank and European Commission officials, representatives of the governments of the regional countries and experts in the field of economic policy and institution management.

The participants discussed the current challenges of growth in the countries of Central, Eastern and Southeastern Europe as well as the ways to reduce the gap between these and the countries of Western Europe, at the round table at the highest level and on several thematic panels. It was concluded that good institution management, fight against corruption and the implementation of structural reforms are mechanisms for achieving more dynamic growth that will accelerate convergence and reduce the gap in the level of development of our countries and countries of Western Europe. In particular, the IMF insists on strengthening cooperation with the civil sector, the social responsibility of institutions, and the inclusion of a larger number of women in governance processes.

In his presentation, Governor Žugić showed gratitude to the IMF for its partnership and successful cooperation and pointed out that the business policy of the CBCG is based on the principles of social responsibility and gender equality. "Women make up 60% of the total number of employees in the CBCG, and they are also represented in management positions - in the middle management positions, women make up 45.8%, while at line management level, this percentage is even higher, amounting to 59%," said the Governor Žugić.

As the conference continued, the macroeconomic situation in the countries of the region was also discussed, as well as the measures that are being implemented in order to preserve the financial stability and sustainability of public finances.