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Central Bank of Montenegro : Meeting with the Executive Director of the Belgian-Dutch Constituency at the IMF

11/26/2020 | 10:33am EST
Meeting with the Executive Director of the Belgian-Dutch Constituency at the IMF

26/11/2020

The Governor of the Central Bank of Montenegro, Mr Radoje Žugić, and his associates held a video conference meeting with the new Executive Director of the Belgian-Dutch Constituency at the International Monetary Fund (IMF), Mr. Paul Hilbers. Mr Hilbers recently replaced Mr Anthony De Lannoy at this position.

Governor Žugić informed Director Hilbers with the economic situation and the condition of Montenegro's banking sector. He pointed out that banks maintained stability, and that stable, liquidity and solvency were above the prescribed level. The Governor also informed Director Hilbers about the CBCG activities on mitigating the adverse effects of Coronavirus on the financial system, real economy and households.

The CBCG activities aimed at providing funds to support systemic liquidity, through the instruments of the European Central Bank and the Bank for International Settlements were also presented. Mr Hilbers pointed out that such arrangements provided additional security to preserve the financial system. HE added that it was crucial to monitor the condition of banks continuously and carefully keeping risks under control and consequently maintaining their health.

The counterparties agreed to continue the dialogue and cooperation between the CBCG and the IMF to consider the possibilities of technical assistance for Montenegro in areas that would be defined as priorities.

Disclaimer

Central Bank of Montenegro published this content on 26 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 November 2020 15:32:02 UTC


© Publicnow 2020
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