The Governor of the Central Bank of Montenegro (CBCG), Radoje Zugic said that Montenegro should not rule out a formal arrangement with the IMF, and that additional cooperation should be aimed at optimizing the public sector and public debt management. Also, Zugic said that “salary growth should be in line with the creation of new value and productivity growth.”
Zugic stated this as a participant in the high-level conference organized by the Croatian National Bank and the IMF in Dubrovnik on 2-3 June 2023.
The conference called Creating Policies in Turbulent Times: Fostering Resilience in Central, Eastern and South-Eastern Europe brought together finance ministers and central bank governors of the countries of the region, senior IMF officials, the World Bank, the European Commission, the European Investment Bank and other international organizations, as well as renown academics from several European countries. One of the panelists of the conference was Kristalina Georgieva, Director General of the IMF.
During three panels, conference participants discussed the key challenges faced by the region, among which geopolitical fragmentation, supply shocks such as the current energy crisis and accelerated climate change were singled out. Through an intensive discussion, the options for overcoming the mentioned challenges with the help of adequate fiscal, monetary and structural policies were considered.
