In line with best practices and the highest standards of central banking, the cooperation with the international financial institutions, institutions of the European Union (EU), as well as the technical cooperation with other central banks, rank high among important activities of the Central Bank of Montenegro (CBCG).
The CBCG is the representative of Montenegro in the International Monetary Fund (IMF), where it performs the role of the country’s fiscal agent and depositary and it is authorised to perform all operations and transactions envisaged in the IMF’s Articles of Agreement on behalf of Montenegro, whereas it acts as a depositary with the World Bank Group (WBG).
Montenegro’s EU accession requires active involvement of all the segments of the society, thus the CBCG’s contribution to the integration process and achieving further progress in the implementation of the EU Acquis is of high significance. This translates as ongoing cooperation with EU institutions through regular visits and intensive communication, in particular with the European Commission (EC), the European Central Bank (ECB), and the European System of Central Banks (ESCB).
With a view to strengthening institutional and administrative capacities, especially in regards to implementing activities aimed at complying with best central banking standards and practices, the CBCG works to develop and upgrade the technical cooperation with the ESCB and the ECB, as well as with other central banks and international financial institutions, through the exchange of know-how and best practices.