For small and open economies like Montenegro, the International Monetary Fund (IMF) is not only a source of stability but also a trusted advisor whose analyses and support help uphold good governance principles, said Irena Radović, Governor of the Central Bank of Montenegro (CBCG).
Radović met with IMF Executive Director Kristalina Georgieva in Dubrovnik during a high-level conference co-hosted by the Croatian National Bank and the IMF.
During the meeting, Radović expressed gratitude for the long-standing and comprehensive cooperation between Montenegro and the IMF since Montenegro’s membership began in 2007. This partnership is built on trust, professionalism, and a shared commitment to reforms. She highlighted the IMF’s strong support in strengthening CBCG’s institutional and operational capacities and in maintaining and enhancing macroeconomic stability.
Radović also emphasized the IMF’s role in supporting Montenegro’s alignment with Eurosystem standards, including the implementation of European payment systems such as SEPA, which are crucial steps toward integration into the EU financial framework.
The discussion addressed the growing global challenges, focusing on the IMF’s role in preserving central bank independence, strengthening institutional credibility, and responding to the effects of geopolitical and geo-economic fragmentation.
Radović called for a clear and agile IMF voice to uphold fundamental economic governance values and provide well-designed, context-specific responses to global challenges.
A key topic was the IMF’s new initiative to establish a regional technical assistance center (SEETAC) covering the Western Balkans and Moldova. Radović welcomed SEETAC as a vital mechanism for enhancing institutional capacities and supporting reforms in the region, closely linked to EU integration processes. She stressed the importance of active CBCG participation in SEETAC’s design, implementation, and coordination to ensure relevance, flexibility, and measurable outcomes for beneficiary countries.
Both sides expressed confidence in continuing close cooperation, including upcoming CBCG assessments for alignment with ESCB and Eurosystem standards, supported by EU technical assistance. They also discussed the need for stronger coordination among international development partners—IMF, World Bank, and EU—to ensure coherent and effective reform implementation.
Radović and Georgieva agreed that investments in green and digital infrastructure, strengthening institutional capacities, and deepening regional cooperation within the Western Balkans are essential prerequisites for the region’s long-term resilience and its strategic goal of full EU membership.
