Investment in green and digital infrastructure, bolstering institutional capacities, and enhancing regional cooperation are essential for long-term resilience and the goal of full European Union membership, as stated by Irena Radović, Governor of the Central Bank, and Kristalina Georgieva, Executive Director of the International Monetary Fund.

At a meeting during the High-Level Conference, co-hosted by the Croatian National Bank and the IMF, Radović expressed appreciation for the longstanding collaboration between Montenegro and the IMF, which has evolved into a robust partnership founded on trust, professionalism, and a mutual commitment to reforms since Montenegro joined the IMF in 2007.

The Central Bank of Montenegro highlighted Radović’s emphasis on the IMF’s significant support in reinforcing the institutional and operational capabilities of the Central Bank, as well as in maintaining and enhancing macroeconomic stability.

She also pointed out the vital role the IMF plays in aligning Montenegro with Eurosystem standards, which includes implementing European payment systems such as SEPA—key steps towards Montenegro’s integration into the EU financial framework.

Given the rising global challenges, discussions also covered the IMF’s role in upholding central bank independence, enhancing institutional credibility, and reacting to the impacts of geopolitical and geoeconomic fragmentation.

Radović remarked that for small, open economies such as Montenegro, the IMF serves not only as a stabilizing force but also as a dependable advisor, whose analyses and support are crucial for maintaining good governance principles.

“In an era characterized by fragmentation, trade conflicts, and diminishing international regulations, a decisive and responsive IMF voice is essential to uphold the core values of economic governance and to facilitate thoughtful, context-specific responses to emerging challenges,” stated Radović.

Special attention was given to a new IMF initiative—the establishment of a regional technical assistance center (SEETAC), which will cater to the Western Balkans and Moldova.

Radović welcomed this initiative, stressing that SEETAC will serve as a crucial instrument for enhancing institutional capabilities and supporting reforms regionally, closely connected with the processes of European integration.

She also highlighted the need for the Central Bank of Montenegro’s active involvement in all stages of SEETAC’s design, implementation, and coordination, ensuring relevance, adaptability, and measurable outcomes for beneficiary nations.

Both parties expressed optimism about continuing their close cooperation through forthcoming assessments of the Central Bank of Montenegro’s needs for alignment with ESCB and Eurosystem standards, which will also involve technical support from the European Union. The discussion emphasized the necessity for stronger coordination among international development partners—including the IMF, World Bank, and EU—to ensure coherence and effective implementation of reform agendas.

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