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Europe > Montenegro

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Cover Technical Assistance Reports
Montenegro: Technical Assistance Report-Report on External Sector Statistics Mission (July 29-August 9, 2024)
International Monetary Fund. Statistics Dept.
A technical assistance mission on external sector statistics was conducted for the Central Bank of Montenegro (CBM) during July 29 to August 9, 2024. The mission established measures to address the major sources for the large net errors and omissions (NEO) and reduced the average NEO during 2021 to 2023 from 9 percent to 1.1 percent of Gross Domestic Product. The mission also assisted the CBM and the Ministry of Finance in preparing the Template for International Reserves and Foreign Currency Liquidity—a statistical dataset that covers reserves-related data comprehensively.
Keywords:
Balance of payments; net errors and omissions; Economic Citizenship Program; reserve assets; Template for International Reserves and Foreign Currency Liquidity; Montenegro.; data template; IMF executive directors; CBM plan; CBM record detail; CBM transfer; External sector statistics; Foreign direct investment; Portfolio investment; International investment position; Balance of payments statistics
Cover IMF Staff Country Reports
Montenegro: Staff Report for the 2024 Article IV Consultation-Informational Annex
International Monetary Fund. European Dept.

MONTENEGRO

Keywords:
MONSTAT report; financial asset; expenditure account; resource constraint; quarterly GDP estimate; Government finance statistics; External sector statistics; Exchange rate arrangements; International investment position
Cover IMF Staff Country Reports
Montenegro: Technical Assistance Report-External Sector Statistics
International Monetary Fund. Statistics Dept.
The International Monetary Fund (IMF)’s Statistics Department (STA) conducted a technical assistance (TA) mission to the Central Bank of Montenegro (CBM) for the compilation of external sector statistics (ESS) during April 28–May 13, 2021. The mission was funded by Eurostat to meet the European Union (EU)’s acquis1 from the ESS perspective. The mission focused on the compilation of quarterly international investment position (IIP),2 and assisted the CBM in preparing the Reserves Data Template (RDT) as well as in recording of financial intermediary services indirectly measured (FISIM) in balance of payments statistics.
Keywords:
BIS LBS; CBM data; IMF's Statistics Department; CBM staff; data template; International investment position; Balance of payments statistics; Foreign direct investment; External sector statistics
Cover IMF Staff Country Reports
Montenegro: Technical Assistance Report-External Sector Statistics
International Monetary Fund. Statistics Dept.

The International Monetary Fund (IMF)’s Statistics Department (STA) conducted a technical assistance (TA) mission to the Central Bank of Montenegro (CBM) for the compilation of external sector statistics (ESS) during April 28–May 13, 2021. The mission was funded by Eurostat to meet the European Union (EU)’s acquis1 from the ESS perspective. The mission focused on the compilation of quarterly international investment position (IIP),2 and assisted the CBM in preparing the Reserves Data Template (RDT) as well as in recording of financial intermediary services indirectly measured (FISIM) in balance of payments statistics.

Keywords:
FISIM estimate; CBM approach custodian bank; CBM request information; MFS Division; CBM data; International investment position; Financial derivatives and employee stock options (financial account)
Cover IMF Staff Country Reports
Montenegro: Staff Report for the 2021 Article IV Consultation—Informational Annex
International Monetary Fund. European Dept.

MONTENEGRO

Keywords:
CBM balance sheet; liability positions vis-a-vis nonresident; MONSTAT report; expenditure account; CBM's holding; Government finance statistics; External sector statistics; International investment position; Monetary statistics
Cover IMF Staff Country Reports
Montenegro: Technical Assistance Report-Report on External Sector Statistics Mission
International Monetary Fund. Statistics Dept.
The IMF’s Statistics Department (STA) conducted a technical assistance mission to support the Central Bank of Montenegro (CBM) for the compilation of external sector statistics in Montenegro during January 20–31, 2020. The mission recommended that the CBM compile preliminary quarterly International Investment Position data and submit them to STA for review by the end of December 2020. The mission recommended that the CBM start recording the Economic Citizenship Program (ECP) according to the characteristics of the payments from the applicants by the end of March 2020. The ECP was just introduced in 2019 and details of the program were not made available during the mission. The mission advised that the payments from applicants for the ECP should be recorded in services, current or capital transfers, or direct or portfolio investment, according to the characteristics of the payments. The CBM plans to start recording data based on the information obtained from the international transaction reporting system (ITRS). The mission advised that the CBM approach the agency in charge of the ECP to collect precise information on the characteristics of the payments and cross-check the data from the ITRS.
Keywords:
ISCR; CR; CBM start; Montenegro; asset; CBM use LBS data; ITRS; CBM plan; CBM record; loan assets; Foreign direct investment; External sector statistics; International investment position; Portfolio investment; Reserve assets
Cover IMF Staff Country Reports
Montenegro: Staff Report for the 2019 Article IV Consultation—Informational Annex
International Monetary Fund. European Dept.

2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Montenegro

Keywords:
ISCR; CR; authority; debt; CBM balance sheet; development goal; MONSTAT; Montenegro; CBM's holding; holdings of Montenegrin government securities; MONSTAT from CIF; Government finance statistics; Financial statistics; International investment position
Cover IMF Staff Country Reports
Montenegro: Technical Assistance Report-Report on External Sector Statistics Mission
International Monetary Fund. Statistics Dept.
To support the compilation of external sector statistics (ESS) in Montenegro, the International Monetary Fund (IMF)’s Statistics Department (STA) conducted a technical assistance (TA) mission during December 4–15, 2017. The mission was requested by the Central Bank of Montenegro (CBM), the main ESS compiling agency, and supported by the IMF’s European Department. STA’s mission for the Enhanced General Data Dissemination System (e-GDDS) during June 28-July 4, 2017 also suggested TA for Montenegro to start compiling international investment position (IIP) and external debt statistics (EDS). The mission focused on assisting the CBM in preparing IIP, EDS, Reserves Data Template (RDT), and addressing persistent net errors and omissions. Compilation of IIP and EDS is required to be qualified for Threshold 2 of the e-GDDS. Montenegro does not participate in the Eurosystem, but it is fully eurorized. Euro circulating in Montenegro should be included in the assets of the IIP for Montenegro, but difficulty in estimating the amount had been preventing the CBM from compiling IIP for several years.
Keywords:
ISCR; CR; balance of payments; Montenegro; position data; portfolio investment position; CBM view; balance of payments division; CBM plan; FDI survey; bank transfer; equity security liability; Foreign direct investment; External sector statistics; International investment position; Currencies; Portfolio investment
Cover IMF Staff Country Reports
Montenegro: Staff Report for the 2018 Article IV Consultation—Informational Annex
International Monetary Fund. European Dept.

2018 Article IV Consultation-Press Release and Staff Report

Keywords:
ISCR; CR; government; Montenegro; debt; GDP; surplus; MONSTAT report; liability positions vis-à-vis nonresident; quarterly GDP estimate; IMF's Coordinated Direct Investment Survey; resource constraint; Government finance statistics; External sector statistics; International investment position; Balance of payments statistics
Cover IMF Staff Country Reports
IMF Completes Second Review Under the Extended Arrangement, Approves Request for Waivers and Modification of Performance Criteria, and for Extension of Repurchases for Serbia and Montenegro
International Monetary Fund

Economic performance in 2002 was generally favorable with good policy implementation, but considerable risks remain. Structural reforms have fallen behind program expectations, but the delays are being addressed. The discussions highlighted the need for prudent policies and strengthening of structural reforms. The structural reforms will focus on tax administration and expenditure management, banking supervision and resolution, and privatization. Monetary and exchange rate policies in Serbia should continue to balance the inflation and external objectives. Serbia and Montenegro's performance under the Extended Arrangement has remained good.

Keywords:
ISCR; CR; indirect tax regime; authority; NBS purchase; creditor support; SDR; enterprise privatization; privatization sale; Structural reforms