Third day in Washington, D.C. with IMF officials: Support for reforms and fiscal and financial stability
18/10/2025
During the third day of the Annual Meetings of the World Bank and the International Monetary Fund in Washington, D.C., the Governor of the Central Bank of Montenegro, Irena Radović, and the Minister of Finance, Novica Vuković, along with their teams, held meetings with the IMF’s Director of the European Department, Alfred Kammer, and the Head of the IMF to Montenegro, Srikant Seshadri.
The discussions focused on current economic developments, progress in implementing policies under Montenegro’s cooperation with the IMF, and the planned reforms.
Governor Radović expressed gratitude for the IMF’s continuous support to Montenegro, noting that it “represents a strong contribution to the sustainable development, resilience, and long-term prosperity of Montenegro`s economy.” She informed the IMF officials about the latest activities of the Central Bank of Montenegro and key achievements within the EU accession process, which include aligning the national regulations with the EU acquis, joining the SEPA system, progress in implementing the TIPS clone project, as well as further strengthening the AML/CFT framework and promoting sustainable and inclusive economic growth.
The IMF representatives agreed that Montenegro’s banking sector remains the most stable segment of the economy, with strong capitalisation and liquidity, as confirmed by the findings of the Article IV mission. The mission had also recognized the significant and ongoing efforts of the Central Bank in strengthening the anti-money laundering and counter-terrorist financing (AML/CFT) systems, as well as in modernizing payment systems and enhancing transparency.
Minister Vuković expressed his appreciation to the IMF representatives for their firm partnership support and for recognizing Montenegro’s strategic goals. Strengthening the economy is an absolute priority, and the development of air transport stands out as one of the key pillars of this process – serving tourism, new investments, and overall prosperity. Starting next year, Montenegro will be connected with 12 countries and 14 European cities through 14 new air routes, providing a strong impetus for accelerated economic growth. This important step in air connectivity is expected to drive growth in tourism and economic competitiveness, making Montenegro an even more accessible and attractive destination on the European map.
The Minister also highlighted the importance of capital projects and balanced development across the entire country, stressing that this is essential for long-term stability and prosperity. Mr. Vuković underlined the significant role of the Ministry of Finance in accelerating the pace and progress of European integration, both in the areas under its direct responsibility and in the overall negotiation framework.
Mr. Kammer and Mr. Seshadri welcomed Montenegro’s progress in implementing structural reforms and maintaining financial stability, and praised the professionalism of the Central Bank and the Ministry of Finance, as well as their commitment to policies that enhance economic resilience and accelerate the country’s EU integration.
Later in the day, the Montenegrin delegation participated in the Annual Plenary Meeting of the IMF and World Bank, where addresses were delivered by Kristalina Georgieva, Managing Director of the IMF, and Ajay Banga, the President of the World Bank Group. The key message from this event was that, in a world of economic uncertainties, trade fragmentation, and structural transformation, policymakers must remain focused on crafting policies that promote economic resilience and accelerate growth.
Earlier in the day, Governor Radović also took part in the Women Leaders’ Breakfast Discussion, hosted by the World Bank Vice President for Europe and Central Asia, Antonella Bassani. This event brought together high-ranking female representatives of governments and central banks from the region to discuss the role of women in shaping the future of financial systems, enhancing financial inclusion, and strengthening economic resilience through equal participation of women in decision-making processes. During the discussion, Governor Radović emphasized the importance of women’s economic leadership in promoting a sustainable and inclusive financial system and shared the Central Bank’s experiences in implementing initiatives that contribute to greater financial literacy and access to financial services for women and vulnerable groups.