Central Banks Governors Met Today in Budapest

13/01/2023

The Governor of the Central Bank of Montenegro, Mr. Radoje Žugić, met today with Mr. György Matolcsy, the Governor of the Magyar Nemzeti Bank, in Budapest.

During the bilateral meeting, the situation in the financial and banking systems of Montenegro and Hungary, the challenges facing the central banks and their possible solutions were discussed. The two governors agreed that the importance of regional cooperation is increasing, as it is easier to face the difficulties when we can work together as allies and friends.

The Governor Žugić expressed his appreciation for the participation of the Central Bank of Hungary in the EU-funded technical assistance programs, especially “the Programme for Strengthening the Central Bank Capacities in the Western Balkans with a View to the Integration to the European System of Central Banks”, where the central banks from the Western Balkans can exchange experience with their European colleagues. The aim of the programme is to harmonize standards and support the preparation of the Western Balkans’ central banks for their integration into the European System of Central Banks. The Governor György Matolcsy emphasized that the enlargement of the Union towards the Western Balkans is especially important for Hungary, hence the Magyar Nemzeti Bank is pleased to provide expert support to the central banks of those states.

At today’s meeting, the technical assistance was agreed with the Magyar Nemzeti Bank with a view to exchanging experience and knowledge to promote tools for the development of medium, small and micro enterprises, as the most important part of Montenegrin economy.