Montenegro central bank delegation visits Cyprus to prepare for ESCB and Eurosystem integration

A delegation from the Central Bank of Montenegro (CBCG), led by Governor Dr. Irena Radović, visited the Central Bank of Cyprus for a working meeting with Governor Christodoulos Patsalides. The trip is part of CBCG’s preparations for future participation in the European System of Central Banks (ESCB) and the Eurosystem following Montenegro’s EU accession.

The visit follows a Needs Assessment project carried out with the central banks of the Netherlands and Belgium, supported by Germany’s Bundesbank and other Eurosystem partners. Officials discussed practical experience from Cyprus in organisational, technological and staffing reforms needed for ESCB membership. Governor Radović emphasized that “the Central Bank of Montenegro is entering the decisive phase of its institutional transformation” and that the recommendations will be turned into a comprehensive multi‑year development programme to ensure full readiness for ESCB and Eurosystem duties.