C O N T E N T S 

• Introductory word of the President of the Council of the Central Bank of Montenegro 
• Economic Trends in 2002 
• Regulation and Supervision of the Banking Sector
• Payment Operations 
• Banking and financial operations 
• Other activities of the Central bank in  2002 
• List of events after finishing the annual report 
• Annex 
  • Annex 1 
  • Annex 2 
  • Annex 3 
  • Annex 4 
  • Annex 5