Governor Radović at a Round Table on the Regional Development of Payment Systems
26/04/2025
During the third day of the IMF/World Bank Spring Meetings, the CBCG Governor Irena Radović participated in a round table dedicated to the payment systems modernisation in the Western Balkan countries, organised by the World Bank.
The meeting attended by the finance ministers and governors of the central banks of the Western Balkan countries, discussed the present results in developing modern payment systems, with a special focus on adherence to the SEPA system and the implementation of the TIPS Clone project, which are key steps towards strengthening the region’s financial integration with European payment infrastructure frameworks.
Informing of Montenegro’s progress in these areas, Governor Radović highlighted that CBCG and several systemically important banks have already submitted applications and received positive responses from the European Payments Council (EPC) for adhering to SEPA payment schemes.
“We believe that the Balkans, starting with euroized countries, should be granted a clear path to participate directly in TIPS. This would be a natural extension of the SEPA enlargement and a strategic move for financial integration following the logic of economic convergence, growth, and resilience,” the Governor said. She added: “Montenegro is ready - and we believe the region is ready – to take this next step.”
The meeting conveyed the message that payment systems modernisation will contribute to more dynamic economic growth in the Western Balkan countries, and that banks that implement the planned reforms in a timely manner will strengthen their market position in the increasing digitisation and European integration context.
At the invitation of the vice-president of the World Bank for Europe and Central Asia, Antonella Bassani, Governor Radović also participated in the meeting titled Role of financial inclusion in empowering women in the economy of the Europe and Central Asia (ECA) region. The discussion aimed to identify the obstacles that women face when it comes to accessing financial services and the effective strategies for their economic empowerment. It also highlighted the importance of the regional exchange of experiences and the application of good practices in this area.
Governor Radović also participated in the Annual Plenary Meeting of the International Monetary and Financial Committee of the IMF (IMFC), which was marked by the presentation of the Director General of the IMF, Kristalina Georgieva. The presentation was dedicated to the IMF’s current global economic challenges and directions of action, focusing on support for developing countries in times of global uncertainty.