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International Monetary Fund. Statistics Dept.
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.

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.
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.
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.

International Monetary Fund. European Dept.
The COVID-19 pandemic will hit Montenegro hard, as tourism is a key industry. Fiscal space has eroded in recent years due to large public capital outlays, and the COVID-19 crisis is creating new budgetary strains as health spending and other expenditures rise, while the economic contraction lowers revenues.
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.