The World Bank and the CBCG continue excellent cooperation

29/03/2023

“The World Bank and the CBCG have a fruitful cooperation, which will further improve in the coming period,” was the message of today’s meeting of the World Bank Country Manager for Montenegro and Bosnia and Herzegovina Christopher Sheldon and the CBCG Governor Radoje Žugić.

Governor Žugić thanked the World Bank representative for the continual support provided to the CBCG, primarily through the technical assistance in the area of payment system modernisation. Mr Sheldon also announced the World Bank’s support to the CBCG in implementing international standards and best practices in banking supervision and resolution.

Mr Sheldon and Governor Žugić also discussed the economic situation in Montenegro and pointed out the need to repair fiscal vulnerabilities, primarily to curb the public debt growth and encourage the development of the real sector which gives the economy momentum.

At today’s meeting the also reviewed the upcoming participation of the Montenegrin delegation at the IMF/WB Spring Meetings in Washington and the organization of the Belgian-Dutch Constituency meeting to be hosted by Montenegro this May.