Central Bank of Montenegro discusses payment system modernisation and single financial market integration at EU–Western Balkans Summit

The Central Bank of Montenegro reported that Governor Irena Radovic participated in the EU–Western Balkans Summit in Brussels, where she presented Montenegro’s reform progress and priorities for integration into the European financial area, focusing on accelerated alignment with the EU acquis and payment system modernisation. In a panel on economic growth, investment and resilience, Radovic linked payment systems upgrades to safer and faster financial services for citizens and more efficient and cost-effective operations for businesses. She also highlighted the constraints of small, fragmented Western Balkans markets and pointed to deeper regional economic cooperation, market integration, harmonisation of rules and capital mobility as channels to support competitiveness and growth, alongside strategic priorities including digitalisation of payment services, SEPA and TIPS, and strengthening the prudential framework. During the Brussels visit, Radovic held discussions with representatives of the European Commission, the European Council and partner institutions on strengthening cooperation under Negotiation Chapters 4, 9 and 17 and on steps supporting Montenegro’s integration into the EU single financial market and the European System of Central Banks.