Financial stability seen as a priority in the region

Becici, (MINA-BUSINESS) – Governor of the Central Bank (CBCG) Irena Radovic has said that ensuring financial stability and encouraging sustainable growth are common priorities of the countries in the region.

She said at a panel that took place during the Summit of Finance Ministers, Governors and Tax Administration Directors, held in Becici, that the region faced many challenges, such as slow economic growth, inflationary pressures, an uncertain geopolitical situation and climate change, as well as insufficiently-analyzed risks stemming from fast technological development and artificial intelligence.

“To adequately address these risks, spreading beyond the borders of individual countries, we need quality national policies, and a strong regional response and joint action,” said Governor Radovic.

She added that the CBCG had set as its priority to build a sustainable and resilient financial system that could respond to contemporary challenges and support the economy in achieving higher growth rates.

In the panel, governors and vice-governors from seven countries in the region discussed the impact of FED and ECB measures on the monetary policies of the countries of the region, expectations related to inflation and interest rates, stability of the banking and financial system, and innovations in the financial sector.