Central Bank of Montenegro updates IMF on SEPA entry, TIPS clone progress and AML/CFT strengthening as Article IV findings confirm banking sector stability

The Central Bank of Montenegro reported on meetings in Washington, D.C. between Governor Irena Radovic, Finance Minister Novica Vukovic and IMF officials during the World Bank and International Monetary Fund Annual Meetings, covering current economic developments, progress under Montenegro’s cooperation with the IMF and planned reforms. IMF representatives assessed Montenegro’s banking sector as the most stable part of the economy, citing strong capitalisation and liquidity and pointing to Article IV mission findings. The Governor briefed the IMF on the central bank’s recent work and EU accession-related milestones, including alignment of national regulation with the EU acquis, Montenegro’s entry into the Single Euro Payments Area, progress on the TIPS clone project, and further strengthening of the anti-money laundering and counter-terrorist financing framework alongside payment system modernisation and transparency initiatives. The Finance Minister highlighted economic priorities including air transport development, stating that from next year Montenegro will add 14 new air routes connecting it with 12 countries and 14 European cities, and pointed to capital projects and balanced development as contributors to long-term stability. Separately, the delegation attended the IMF and World Bank annual plenary meeting, and the Governor participated in a World Bank-hosted Women Leaders’ Breakfast Discussion, where she highlighted initiatives aimed at improving financial literacy and access to financial services for women and vulnerable groups.