The Central Bank of Montenegro (CBCG) reported that a European Commission TAIEX peer review expert mission visited the bank to provide targeted support and strategic guidance on strengthening Montenegro’s institutional framework, with a focus on safeguarding and enhancing central bank independence as part of the EU accession process. Discussions centred on corporate governance arrangements as a safeguard for both legal (de jure) and actual (de facto) independence in day-to-day operations and decision-making, including challenges that could affect effective management, autonomy and alignment with the EU acquis. The delegation was led by Klaas Knot, former Governor of De Nederlandsche Bank and Chair of the Financial Stability Board, and met Governor Irena Radovic and her team, candidates for vice-governor roles, Council members, the Chair of the Advisory Board, and heads of strategic organisational units to review institutional capacity and the CBCG’s independent role. The mission is expected to produce specific recommendations to address identified challenges and strengthen alignment with EU best practices, with relevance to negotiations under Chapter 9 (Financial Services) and Chapter 17 (Economic and Monetary Policy); the Head of the EU Delegation to Montenegro, Ambassador Johann Sattler, attended the meeting with the mission leadership.
Central Bank of Montenegro 2025-09-24
Central Bank of Montenegro hosts European Commission TAIEX peer review on corporate governance and central bank independence
The Central Bank of Montenegro hosted a European Commission TAIEX peer review mission to enhance its institutional framework and central bank independence as part of the EU accession process. Discussions focused on corporate governance to safeguard legal and actual independence, with recommendations expected to align with EU best practices. The mission, led by Klaas Knot, included meetings with key CBCG officials and EU representatives.