Podgorica, (MINA-BUSINESS) – Governor of the Central Bank (CBCG) Irena Radovic has supported an initiative of the International Monetary Fund to establish the Regional Technical Assistance Centre for Southeast Europe.

According to a press release from the CBCG, the Centre would provide comprehensive support to the Western Balkans countries and Moldova in strengthening capacities in key areas of economic management.

Radovic said that the initiative was important for further institutional development and economic progress of the countries in the region and for strengthening their resilience in an increasingly complex global environment.

The press release states that, during her stay in Washington, D.C. for the IMF/World Bank Spring Meetings, Radovic attended a high-level meeting at the invitation of Director of the IMF’s European Department Alfred Kammer.

The Centre is planned to cover technical assistance in five key areas: fiscal policy, monetary and financial sector policy, macroeconomic statistics, macroeconomic modelling and legal aspects – including fiscal and financial law, and anti-money laundering and combating the financing of terrorism (AML/CFT).

Additionally, Radovic participated in a meeting with central bank governors and finance ministers of European countries. The IMF organised this meeting to discuss the challenges posed by the changing global environment, including rising energy prices, fiscal pressures and trade uncertainties, and measures to contribute to reducing uncertainty and encouraging sustainable economic growth in the region.

On the last day of her stay in Washington, D.C., Radovic also participated in the meeting of the Supervisory Board of the Vienna Initiative to discuss the current challenges faced by the region in adhering to the Single Euro Payments Area (SEPA).

“The discussions focused on regulatory, technical and infrastructural aspects of this process and the role of international partners in supporting the full integration of the region’s countries into the European payments area,” the press release states.