At the IMF/World Bank Spring Meetings, Central Bank of Montenegro Governor Irena Radovic took part in a World Bank round table on payment systems modernisation in the Western Balkans, focusing on alignment with the Single Euro Payments Area (SEPA) and implementation of the TARGET Instant Payment Settlement (TIPS) Clone project as steps toward deeper integration with European payment infrastructure. Radovic reported that the Central Bank of Montenegro and several systemically important banks have submitted applications to join SEPA payment schemes and received positive responses from the European Payments Council. She argued that the Western Balkans, starting with euroised countries, should have a clear path to direct participation in TIPS as an extension of SEPA enlargement. The governor also participated in a World Bank session on financial inclusion and women’s economic empowerment in Europe and Central Asia, and in the International Monetary and Financial Committee’s annual plenary meeting, which discussed global economic challenges and IMF action priorities.
Central Bank of Montenegro 2025-04-26
Central Bank of Montenegro highlights SEPA accession progress and calls for a path to direct participation in TIPS at World Bank round table
At the IMF/World Bank Spring Meetings, Central Bank of Montenegro Governor Irena Radovic discussed payment systems modernization in the Western Balkans, focusing on SEPA alignment and the TIPS Clone project. She noted that the Central Bank of Montenegro and key banks have applied to join SEPA schemes, receiving positive feedback from the European Payments Council. Radovic also engaged in discussions on financial inclusion, women's economic empowerment, and global economic challenges at the International Monetary and Financial Committee's plenary meeting.