Governor of the Central Bank of Montenegro, Irena Radović, met with Joachim Nagel, the Governor of the Bundesbank, in Frankfurt. During the meeting, the partnership between the Bundesbank and the Central Bank of Montenegro (CBCG) was further strengthened, continuing to contribute to the modernization and alignment of Montenegro’s financial sector with European standards.
The long-standing cooperation between the two institutions was emphasized, with a focus on initiatives to enhance the CBCG’s capacities, technical support, and knowledge transfer. Governor Radović expressed her deep gratitude for the Bundesbank’s strong support, which has been crucial in strengthening Montenegro’s financial stability and the institutional framework of the CBCG.
Governor Radović informed Governor Nagel about the latest developments regarding ongoing reforms in Montenegro, including the country’s recent membership in the Single Euro Payments Area (SEPA). She also shared the strategic priorities of the CBCG for the 2025-2028 period, which include further alignment with the European System of Central Banks (ESCB) framework and organizational transformation of the CBCG to meet the demands of a modern and resilient financial system.
Governor Nagel highlighted the excellent relations between the central banks. “The Bundesbank has maintained a strong partnership with the Central Bank of Montenegro for many years. Together, we are implementing multiple projects and mutually benefiting from the exchange of ideas and perspectives,” said Nagel.
The two officials also discussed global financial trends, including the development of the digital euro and responses to challenges in the dynamic economic environment.
“Bundesbank has always been a trusted partner to our central bank, and this visit further confirms our shared commitment to strengthening Montenegro’s financial sector,” said Governor Radović. “The knowledge and expertise we rely on through this cooperation are invaluable as we advance the CBCG’s agenda in the pre-accession process and enhance Montenegro’s financial resilience.”
This meeting marks another significant chapter in the strong and valuable partnership between the Bundesbank and CBCG, emphasizing their joint commitment to fostering financial stability and improving regional and European financial integration.
Vice Governor Zorica Kalezić and the Director of the Payment Systems Sector, Andrija Jovović, held additional meetings with senior Bundesbank representatives responsible for payment systems. They discussed cooperation on the modernization of payment services.
The visit of the Montenegrin delegation to Frankfurt represents an important step in strengthening cooperation with key European institutions and reaffirms the CBCG’s commitment to aligning with European Union standards, contributing to further integration of the country into European economic and financial flows, as stated in the Central Bank of Montenegro’s press release.
