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H.E. Ambassador Felten Visits the CBCG

05/04/2024

His Excellency, the German Ambassador to Montenegro, Mr Peter Felten, visited the CBCG, where he met with the Governor, Ms Irena Radović.


The Governor presented His Excellency with the most relevant banking sector operating ratios, which confirm its stability. She noted that key balance sheet positions, such as bank assets, capital, and deposits, also show positive trends in 2024.


The Governor pointed out the CBCG’s commitment to fulfilling Montenegro’s strategic objective of joining the EU, emphasising that the institution’s representatives participate in ten working groups for negotiation chapters, three of which the CBCG leads.


They agreed on the crucial role of central banks in integrating the Western Balkan region into the EU, especially in economic integration. One of the priority activities for the region’s accelerated economic integration is for the Western Balkan countries to join the Single European Payments Area (SEPA). The Governor informed His Excellency about the CBCG’s activities on Montenegro’s accession to SEPA and other plans to strengthen institutional capacities and to transfer and adopt the best European standards in the context of further regulatory and supervisory framework improvement.


“In this segment, we find cooperation with the Bundesbank extremely valuable”, said the Governor and thanked for their support within the regional IPA project. The Bundesbank coordinates the project that supports the preparation of the Western Balkans’ central banks for their integration into the ESCB.


Governor Radović and H.E. Ambassador Felten agreed that the Berlin Process is of utmost importance for Montenegro’s European path as an initiative promoting regional cooperation and accelerated integration of the Western Balkans region into the EU. “I am encouraged by the ambitious CBCG’s agenda and your intention to contribute to the accelerated Montenegro’s integration into the EU,” Ambassador Felten said.


The interlocutors expect that the two countries would additionally improve their cooperation in the coming period and agreed to continue communication.