The Central Bank of Montenegro (CBCG) is set to continue its pivotal role in Montenegro’s journey toward European Union membership. This commitment was reinforced in a recent meeting between CBCG Governor Irina Radović and a European Commission delegation led by Gert Jan Kopman, Director-General of the Directorate-General for Neighborhood and Enlargement Negotiations (DG NEAR).
The meeting underscored the CBCG’s dedication to meeting its obligations within the designated timelines, a crucial step in advancing Montenegro’s EU integration goals. Radović expressed appreciation for the European Commission’s ongoing support, which includes regular dialogues and various technical assistance programs. This support is vital for aligning with EU regulations and enhancing the CBCG’s institutional framework in accordance with the European System of Central Banks (ESCB) standards.
Radović also detailed the CBCG’s efforts to consolidate and transform the institution, setting the stage for future integration into the Eurosystem. She updated Kopman on progress and upcoming activities related to negotiation chapters overseen by the CBCG—specifically, Chapter 4 (Free Movement of Capital), Chapter 9 (Financial Services), and Chapter 17 (Economic and Monetary Policy). The meeting highlighted the collaborative efforts of the CBCG, Government, and Parliament to expedite the alignment of domestic regulations with EU standards.
A key topic of discussion was Montenegro’s application to join the Single Euro Payments Area (SEPA), a significant step toward deeper integration with the EU and the European Commission’s Growth Plan for the Western Balkans.
Kopman praised the CBCG’s accomplishments and voiced the European Commission’s support for Montenegro as it enters a new phase of negotiations, including the process of closing negotiation chapters. He emphasized that the CBCG’s independence is essential for ensuring macroeconomic stability and successful reform implementation. Kopman noted that this independence is a critical factor in closing economic chapters, as it fosters transparency, accountability, and confidence in the financial system, all of which are crucial for Montenegro’s continued progress toward full EU membership.
