Podgorica, (MINA-BUSINESS) – It was concluded at a meeting between the Montenegrin delegation and representatives of the International Monetary Fund (IMF), held in Washington, D. C., that Montenegro has made progress in preserving macroeconomic and financial stability and in implementing reforms.

 

At the meeting Governor of the Central Bank (CBCG) Irena Radovic and Minister of Finance Novica Vukovic had during the second day of the IMF and World Bank Spring Meetings in Washington with the IMF Deputy Managing Director, Bo Li, strong cooperation between Montenegro and the IMF was reaffirmed, along with an open and substantive dialogue that further strengthens the country’s economic credibility and supports Montenegro’s reform momentum.

 

According to a press release from the CBCG and the Ministry of Finance, Radovic highlighted the importance of continuous and targeted IMF support for small economies, particularly in strengthening resilience to external shocks, improving policies, and building institutional capacity. 

 

She presented the current state of Montenegro’s banking sector and the key steps taken by the CBCG in the EU accession process, including full alignment of regulations with the EU acquis, accession to the SEPA area, implementation of the TIPS Clone project, strengthening the anti-money laundering and counter-terrorist financing framework, and the implementation of the Needs Assessment project.

 

Vukovic said that Montenegro recorded stable macroeconomic trends, sustained reform momentum, and growing confidence among international partners. He particularly noted that the Ministry of Finance achieved a record 98 percent implementation rate of obligations from the European agenda for 2025, further confirming strong commitment to the European path. 

 

He said that reform progress is accompanied by tangible economic results, with more than 2.7 million tourists in 2025, €1.48 billion in revenues, foreign direct investment growth exceeding 14 percent, and a historically low unemployment rate of 8.93 percent. 

 

Vukovic stated that these indicators confirm that the Montenegrin economy was moving towards stability, growth, and greater resilience.

 

Bo Li positively assessed Montenegro’s progress in maintaining macroeconomic and financial stability and implementing reforms, stating that “the EU agenda is ambitious but achievable, and the IMF is a partner to Montenegro on this path”. He particularly emphasized the importance of preserving the CBCG's independence.

 

At the meeting with Executive Director of the IMF and World Bank Constituency Jeroen Clicq, and his Deputy Marnix van Rij, Governor Radovic presented the current situation in Montenegro’s banking sector, highlighting its stability and positive trends in key indicators, with particular emphasis on the high capitalization of banks and the continued decline in non-performing loans.

 

Vukovic recalled that GDP growth in 2025 amounted to 2.7 percent, with each quarter being at or above the EU average. He noted that revenue growth did not result from one-off effects, but from steady growth in tax categories, improved collection, and the broadening of the tax base.

 

IMF representatives noted that significant progress has been made in legal alignment with the EU and reforms in the financial sector. They said that Montenegro’s accelerated progress in negotiation chapters was a strong signal of institutional maturity and reform commitment.

 

The delegation also met with Jeff Danforth, Head of the IMF Mission to Montenegro, and Pierre-Olivier Gourinchas, Chief Economist at the IMF, to discuss current global and regional economic developments, challenges, and future priorities for cooperation between Montenegro and the IMF.

 

Radovic also participated in the meeting of the International Monetary and Financial Committee (IMFC), where current global economic challenges and the IMF’s policy directions were discussed.