Governor Radović Meets with Bundesbank President


13/12/2024

Dr. Irena Radović, Governor of the Central Bank of Montenegro (CBCG), met yesterday in Frankfurt with Dr. Joachim Nagel, President of the Deutsche Bundesbank. The meeting reaffirmed the enduring partnership between the Bundesbank and the CBCG - a collaboration pivotal in the modernization and alignment of Montenegro’s financial sector with European standards.


The discussions highlighted the long-standing cooperation between the two institutions, focusing on capacity-building initiatives, technical assistance and knowledge sharing. Governor Radović expressed profound gratitude for the Bundesbank’s unwavering support, which has been instrumental in strengthening Montenegro’s financial stability and institutional framework.


Governor Radović provided an update on Montenegro's ongoing reforms, including the recent membership in the Single Euro Payments Area (SEPA) and the CBCG’s strategic priorities for 2025. These include further harmonization with the European System of Central Banks (ESCB) framework and the organizational transformation of the CBCG to meet the demands of a modern and resilient financial system.


Dr. Nagel underlined the good relationship between both central banks: “For years, the Bundesbank has maintained excellent cooperation with the Central Bank of Montenegro. We implement many projects together and benefit from the exchange of ideas and perspectives.” The dialogue also touched upon global financial trends, including digital currency developments and strategies to address emerging risks in a dynamic economic environment.


“The Deutsche Bundesbank has been a trusted partner in our central banking journey, and yesterday’s meeting reaffirmed our shared dedication to strengthening Montenegro’s financial sector,” Governor Radović stated. “The knowledge and expertise shared through this collaboration continue to be invaluable as we advance our EU accession agenda and enhance financial resilience in Montenegro.”


This meeting marked another chapter in the strong and fruitful partnership between the Bundesbank and the CBCG, underscoring the shared commitment to fostering financial stability and advancing regional and European financial integration.