The IMF`s technical assistance project announced

09/05/2019

The CBCG Governor, Mr. Radoje Žugić, and his associates have met today with the International Monetary Fund`s (IMF) expert team represented by Mr. David Rozumek and Mr. Valter Borges de Araujo Neto.

The occasion for the IMF delegation visit to the Central Bank of Montenegro is the implementation of a technical assistance program in the field of credit risk management in banks. Efficient credit risk management is a basis for a successful pursuit of banking business and it implies timely risk identification and taking appropriate preventative measures.

The Governor Žugić thanked the IMF representatives, pointing out that the CBCG is very satisfied with the cooperation with this institution and that all central bank capacities will be fully devoted to a successful implementation of the impending project.

Continuing the discussion, the Governor introduced the experts with the current situation in Montenegro`s banking sector and intensive regulatory activities of the CBCG aimed at ensuring the alignment with EU directives, the introduction of best practices, and the strengthening of supervisory functions.