TAIEX Peer Review Mission at the CBCG

24/09/2025

A delegation of the TAIEX Peer Review expert mission, which the European Commission launched to provide Montenegro with targeted support and strategic guidance in strengthening its institutional framework, particularly in safeguarding and enhancing the central bank’s independence as a key criteria for the EU membership, visited the CBCG. The TAIEX delegation consists of the EU experts’ team led by dr Klaas Knot, former Governor of De Nederlandsche Bank and the Chair of the global Financial Stability Board.

At the meeting with the CBCG Governor Irena Radović and her team, they discussed corporate governance aspects as a key element in safeguarding the legal (de jure) and actual (de facto) independence of the CBCG in its daily operations and decision-making. They paid special attention to challenges that could jeopardise the central bank’s effective management, autonomy, and alignment of with the EU acquis.

As part of the mission, the delegation also met with candidates for Vice-Governors, the Council members, and the Chairman of the Advisory Board, as well as with heads of strategic organisational units to cover the full institutional capacity and confirm the CBCG’s independent role in line with the EU acquis.

The mission will result in specific recommendations to address key challenges and improve alignment with EU best practices, significantly contributing to strengthen the CBCG's independent and credible role and representing an important step in the negotiation process under Chapter 9 – Financial Services and Chapter 17 – Economic and Monetary Policy.

The Head of the EU Delegation to Montenegro, Ambassador Johann Sattler attended the meeting with Mission Leader Klaas Knot and Governor Irena Radović.