The Governor of the Central Bank of Montenegro, Dr. Irena Radović, participated in a high-level conference titled “Central Banks and Central Banking in an Exceptionally Complex World: Demonstrating Commitment and Maintaining Credibility”, organized by the National Bank of North Macedonia in collaboration with the Reinventing Bretton Woods Committee.
According to a statement from the Central Bank of Montenegro (CBCG), the conference was inaugurated by North Macedonia’s President, Gordana Siljanovska Davkova, the Governor of the National Bank of North Macedonia, Anita Angelovska Bezhoska, and the Executive Director of the Reinventing Bretton Woods Committee, Marc Uzan. It gathered central bank governors from several European countries, high-ranking representatives from international institutions such as the International Monetary Fund (IMF), World Bank, European Central Bank, European Bank for Reconstruction and Development and the European Banking Authority, as well as members of the international academic community.
The conference featured multiple panels where participants discussed key challenges faced by central banks, particularly focusing on preserving their independence and credibility. It was concluded that central bank independence remains crucial for maintaining financial stability and enhancing trust in the financial ecosystem. This issue is increasingly significant in light of the expanding mandates of central banks in a dynamic environment that includes climate change, digitalization, fintech, as well as financial education and inclusion.
During a panel on inclusive financing in Southeast Europe, Radović spoke about the CBCG’s reform agenda and the efforts to align the regulatory and institutional framework with the Eurosystem central banks, highlighting financial inclusion through responsible gender policies. She noted that “Montenegro has made significant strides in financial inclusion, but there is still room for improvement.” The CBCG, through regulatory changes, projects with international institutions and coordinated initiatives, aims to create a more inclusive environment for access to capital, financial education and business opportunities for vulnerable groups.
Panelists agreed that additional efforts are necessary to address structural inequalities, emphasizing the important role central banks play in these processes. Through inclusive policies, the promotion of financial literacy, and innovation, central banks can significantly reduce barriers to financial inclusion, ultimately benefiting the economy.
On the sidelines of the conference, the governors of the central banks of Montenegro, North Macedonia, and Bosnia and Herzegovina—Dr. Irena Radović, Anita Angelovska Bezhoska, and Jasmina Selimović—held a separate meeting with North Macedonia’s President, Gordana Siljanovska Davkova. They collectively conveyed a strong message of support for the complex mandates of central banks and regulatory policies that contribute to closing the financing gap for sensitive categories. The discussions also highlighted the importance of enhancing cooperation among countries in the region, especially in the context of their European perspective.
