Irena Radović, the Governor of the Central Bank of Montenegro (CBCG), along with her team, hosted an introductory meeting today with the International Monetary Fund (IMF) team conducting a Transparency Code Review (TCR) in Montenegro. The CBCG initiated this review to bolster transparency, enhance accountability to key stakeholders, and improve the effectiveness and visibility of its policies, according to a statement from the bank.
Governor Radović expressed her appreciation to the IMF team for their support, noting that “the CBCG is deeply committed to enhancing its practices to become a more open, modern, inclusive, and independent institution serving the best interests of Montenegro and its people.”
“This collaboration with the IMF represents a significant step towards building greater public trust by elevating our accountability to citizens and all stakeholders,” Radović added.
Cecilia Melo Fernandes, who is leading the TCR team, praised the CBCG’s initiative and dedication to improving transparency. “The Transparency Code Review is a crucial process for any central bank as it provides an objective evaluation of current practices and identifies areas for improvement,” Fernandes stated.
The IMF team will be in Montenegro from September 11 to 25, holding meetings with various CBCG departments and engaging with representatives from government institutions, the financial sector, media, and the academic community.
The transparency assessment of the CBCG will adhere to the IMF’s Code of Transparency for Central Banks. This international framework helps central banks evaluate their transparency practices, focusing on governance, policy implementation, and overall functionality, according to the statement.
