Central Bank of Montenegro Centralna Banka Crne Gore
Headquarters
Podgorica
Established
March 15, 2001
Ownership
100% state ownership[1]
Governor
Irena Radović
Central bank of
Montenegro
Reserves
1.7 billion USD[2]
Preceded by
National Bank of Yugoslavia
Succeeded by
European Central Bank 1
Website
Official website
1 Many policies are managed de facto by the ECB/eurosystem, even if the bank is not part of the Eurosystem or the European System of Central Banks.
The Central Bank of Montenegro (Montenegrin: Centralna Banka Crne Gore, or CBCG) is the central bank of Montenegro. Although Montenegro does not issue its own currency after it unilaterally adopted the euro in 2002, the stated mission of the central bank is to establish and maintain a sound banking system and monetary policy.
The Central Bank of Montenegro was established by the Parliament of Montenegro in November 2000, when the country was part of a political union of Serbia and Montenegro. With its establishment, the Republic of Montenegro obtained an independent authority responsible for monetary policy, and establishment and maintenance of sound banking system and efficient payment system operations.
The Montenegrin monetary system was euroized in 1999, when German Mark was adopted as a legal tender, alongside Yugoslav Dinar. Montenegro has not issued its own currency since, as it has unilaterally adopted the euro in 2002.
The Central Bank of Montenegro does not participate in the European System of Central Banks or in ECB meetings. However, it tracks ECB policy, making the latter the de facto central bank of Montenegro for economic and monetary purposes. One of the main proclaimed goals of the Central Bank of Montenegro is the accession of the country to the Eurozone. Montenegro does not mint issue or print euro coins or notes and imports them from other countries that are part of the Eurozone.
^Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
^"Montenegro Foreign Exchange Reserves". August 1, 2023.
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