The Central Bank of Montenegro used the Annual World Bank and IMF Meetings in Washington to present the results of its European integration agenda and payment system reform, reporting to the IMF’s European Department that it has fully implemented its 2025 EU agenda commitments and that Montenegro’s accession to the Single Euro Payments Area (SEPA) is already generating savings worth millions for citizens and businesses. The delegation, led by Governor Irena Radovic, also discussed current macroeconomic and financial developments and preparations for a more demanding framework of economic convergence with the European Union. The central bank highlighted full alignment in banking supervision, payment systems, anti-money laundering and counter-terrorist financing, and bank resolution. Regional work on the TIPS Clone project was reviewed at a roundtable with Western Balkan central banks, Banca d’Italia and the World Bank, focusing on activities to date and preparations for the planned launch of an instant payment system. Governor Radovic also presented Montenegro’s experience with the WE Finance Code initiative, describing a national framework integrating data, policies and concrete activities to improve access to finance for women entrepreneurs, and participated in International Monetary and Financial Committee discussions that highlighted heightened global risks and spillovers from geopolitical crises.
Central Bank of Montenegro 2026-04-18
Central Bank of Montenegro presents completion of 2025 EU agenda commitments and progress on SEPA and TIPS Clone payment reforms
The Central Bank of Montenegro used the IMF and World Bank Annual Meetings to report full implementation of its 2025 EU agenda commitments in banking supervision, payment systems, anti-money laundering and counter-terrorist financing, and bank resolution, noting that Montenegro’s accession to the Single Euro Payments Area is generating significant savings for citizens and businesses. It also reviewed regional progress on the TIPS Clone instant payment project with Western Balkan central banks, Banca d’Italia and the World Bank, and presented its WE Finance Code framework to improve access to finance for women entrepreneurs amid broader discussions on global risks and geopolitical spillovers.