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The First International Conference Montenegro Financial Markets Begins

17/10/2023

CBCG Provides Impetus to the Region’s Integration into the EU


The international conference Montenegro Financial Markets, organised by the Capital Market Authority (CMA) in cooperation with the Ministry of Finance and the CBCG, started today at the Hilton Hotel in Podgorica. This reputable event aims to bring together leading finance experts from the country, the region and the wider international business community.


Along with the President of Montenegro, Jakov Milatović, the Minister of Finance, Aleksandar Damjanović, and the CMA President, Željko Drinčić, the CBCG Governor Radoje Žugić also addressed the Conference.


Thanking for the opportunity that the CBCG support organising this important international event, Governor Žugić referred to two key topics relevant to the Conference, i.e. the current global economic situation and, notably, the continuation of curbing inflation and the activities aimed at Montenegro’s accession to the Single Euro Payments Area (SEPA).


The Governor pointed out that, along with the careful creation and pursuit of fiscal and monetary policy, Montenegro must be absolutely committed to structural reforms that would contribute to reducing barriers to stronger economic growth.


Žugić also announced that the CBCG is giving impetus to the region’s integration into the EU through the intensive activities it carries out on further payment systems modernisation and dedicated work on full convergence with SEPA conditions. “An efficient integrated payment system compliant with SEPA standards can make Montenegro more attractive for foreign investors and indicate a commitment to modern financial infrastructure and ease of doing business,” the Governor emphasised in his presentation. Moreover, joining the SEPA system will have direct benefits for all citizens of Montenegro, added Žugić.


During the two days of the Conference, participants will discuss a number of economic topics covering, inter alia, the role of asset management companies, the challenges of sustainable finance and the timeline of relations between the Government and the capital market.