The Governor of the Central Bank of Montenegro (CBCG), Dr. Irena Radović, visited the Central Bank of Luxembourg and met with its Governor, Gaston Reinesch. They exchanged views on current global economic and financial developments, focusing on the challenges affecting central banks. Discussions also included possibilities for enhancing bilateral cooperation, particularly in financial system supervision, digitalization, and strengthening the institutional capacities of central banks in response to increasingly complex global challenges.
Radović emphasized the importance of cooperation with the Central Bank of Luxembourg, a member of the European System of Central Banks (ESCB), as CBCG continues preparations for future membership in the ESCB. She underlined that the exchange of knowledge, experience, and best practices with institutions that are part of the Eurosystem significantly contributes to strengthening CBCG’s regulatory and supervisory frameworks and its overall institutional modernization. She noted that the cooperation is especially valuable given the shared characteristics of small and open economies, which are particularly vulnerable to external shocks and therefore require strong institutions and resilient financial infrastructure.
Both sides expressed readiness to continue collaboration and mutual support in advancing reforms and reinforcing the resilience of the financial system.
Governor Radović is in Luxembourg to attend the regular annual meeting of the International Monetary Fund and World Bank Constituency, held from July 2 to 4, 2025. The event gathers central bank governors and finance ministers from member countries, along with senior officials from international financial institutions.
