Successful and quality cooperation between the CBCG and the Delegation of the European Union
22/03/2022
The cooperation between the Central Bank of Montenegro (CBCG) and the Delegation of the European Union to Montenegro in Podgorica was assessed successful and with high quality at today’s meeting of the Governor Radoje Žugić and Head of the Delegation of the European Union to Montenegro Oana-Cristina Popa. The CBCG Vice Governors Miodrag Radonjić, Zorica Kalezić and Nikola Fabris, as well as Yngve Engstroem, Head of Cooperation at the Delegation of the European Union and Marija Vuković-Đurović, Advisor for Economic and European Integration in the Delegation of the European Union also attended the meeting.
Governor Žugić informed the Ambassador about the latest indicators of banking operations in Montenegro. He emphasised that the banking sector was stable, liquid, adequately capitalised and recorded positive trends even after the most substantial corona crisis wave.
“The CBCG is continuously committed to the negotiation process, harmonisation of regulations with EU standards, and capacity building, especially in supervision and prevention of money laundering," said Žugić.
Ambassador Popa pointed out the need for a dynamic recovery of the Montenegrin economy after the corona crisis, with tourism having a significant role and the FDI inflow. “Political stability is crucial to attracting foreign investors," said Ms Popa”. She added that due to current geopolitical events, Montenegro has the opportunity to make faster progress towards the European Union, but Montenegro must accelerate the reform process from its European agenda.
At today's meeting, the CBCG representatives requested the Delegation of the European Union to consider supporting the initiative launched to the European Banking Authority (EBA). The initiative seeks to assess the supervision oversight function’s compliance with the acquis so that Montenegro could join countries that have already achieved compatibility with EU regulations in banking supervision at the candidate countries’ level.