The Governor of the Central Bank welcomes the Belgian Ambassador

29/05/2019

His Excellency, Koenraad Adam, the non-resident ambassador of the Kingdom of Belgium in Montenegro, based in Belgrade, visited the Central Bank of Montenegro and met with the Governor, Radoje Žugić.

As the Ambassador Adam showed interest in macroeconomic trends in Montenegro, the situation in the banking sector and further priorities in the work of the Central Bank, the Governor Žugić presented the main economic parameters in an open conversation and pointed out that during the last year, Montenegro achieved strong economic growth and that, according to forecasts, this growth will continue, as well as that identified vulnerabilities in all key sectors have been significantly reduced.

According to all important indicators of the banking system, the situation is stable and continuously improving. Governor Žugić pointed out that after the measures were introduced in two banks, the resilience and health of all other banks in the system has been preserved, as confirmed by the evident growth of key indicators. Also, what is especially important is that deposits and liquidity, being the main indicators of preserved confidence in the banking sector, grew at the system level.

The Governor also touched upon the activities of the Central Bank of Montenegro in the area of European Integration and pointed out that the main objective in the coming period is to continue the harmonization of the regulatory framework with the EU acquis as well as with the generally accepted international standards and best banking practices. The Central Bank will maintain its internal priorities, i.e. institutional and personnel strengthening of supervision, the strengthening of activities for preventing money laundering as well as the improvement of payment operations.

Ambassador Adam expressed his satisfaction with the results achieved by the Central Bank of Montenegro in terms of the strengthening of the banking system and announced further cooperation.