BUSINESS

Governor of the Central Bank of Montenegro visiting the Central Bank of BiH

Governor of the Central Bank of Montenegro (CBCG), Radoje Žugić, Ph.D., has officially visited the Central Bank of Bosnia and Herzegovina, today, on 04 March 2021. During the meeting with Governor of the CBBH, Senad Softić, Ph.D., the information on the impact of the COVID-19 pandemic on the financial system, real economy and population, has been exchanged.

Governors discussed the activities of the Central Banks of Montenegro and Bosnia and Herzegovina during the pandemic, stressing that the banking sectors of both countries have preserved stability, with liquidity and solvency at system level remaining satisfactory. Governors agree that each crisis, including this one, should be used to make faster improvements. Finance digitisation trend, which often means the increase of efficiency of financial services, has lasted for some time, however, the coronavirus pandemic has accelerated it significantly. There are many new technologies, and it is important to ensure that they contribute to the welfare of population and sustainable growth.

The mutual cooperation of the two central banks has been estimated as very successful, both at bilateral and multilateral level, as the central banks of both countries are members of the Governors’ Club of the Central Asia, Black Sea Region and Balkan Countries, and also the Dutch-Belgian constituency of the International Monetary Fund and the World Bank, within which, the information is exchanged on current economic and financial issues in member countries.

Governors have expressed their wish to continue the successful cooperation between the two monetary institutions.

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