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Europe > Montenegro

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Cover IMF Staff Country Reports
Montenegro: 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Montenegro
International Monetary Fund. European Dept.
This report highlights the recent economic developments and outlook and risks related to the Montenegro’s economy. It also discusses policies which need to be implemented to boost growth. Montenegro’s economy has rebounded in the past year, and strong growth looks set to continue in 2016, at slightly more than 4 percent. Although the government’s growth strategy can bring substantial gains, it also carries sizable risks, notably to the public finances. The authorities have taken various policy measures to (1) contain fiscal sustainability risks, (2) sustainably revitalize credit conditions, (3) safeguard financial sector stability, and (4) boost competitiveness and economic flexibility.
Keywords:
ISCR; CR; asset; production GDP estimate; asset quality; consumer price index; Montenegro; article IV staff; growth strategy; Montenegro's economy; Montenegro authorities; insurance oversight framework; assessment of the resilience; Credit; Public sector wages; Global
Cover IMF Staff Country Reports
Montenegro: 2010 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Montenegro.
International Monetary Fund
This 2010 Article IV Consultation highlights that Montenegro has been hard hit by the global financial crisis. Contagion and concerns about the robustness of the banking system have triggered large deposit withdrawals and a credit crunch. Moreover, the unwinding of the real estate boom has generated strong negative wealth effects that depressed demand. The authorities have taken wide-ranging measures to stabilize the financial system and rekindle lending activity. Foreign parents have also stepped in with substantial liquidity infusion.
Keywords:
ISCR; CR; deficit; authority; mall; authorities of Montenegro; priced government service; IMF staff estimate; blanket deposit guarantee measure; further labor market reform; state guarantee; deposit withdrawal; Credit; Wages; Government finance statistics; Monetary statistics; Global; Europe
Cover IMF Staff Papers
IMF Staff papers: Volume 2 No. 3
International Monetary Fund. Research Dept.
This paper focuses on the relation of inflation to economic development. Due to the inadequacy of savings and the difficulty of directing them into productive investment, there is a strong temptation to raise the level of investment by expanding bank credit—that is, by inflation. In most low-income countries, even the most forceful measures for increasing savings and for applying them to the most urgent needs would still leave the economy with inadequate resources for the investment necessary to assure tolerable progress in raising productive efficiency and expanding production. The only way of securing adequate resources for development in such countries is by supplementing domestic savings with capital from abroad. It is characteristic of the underdeveloped countries that the resources they put into investment are generally a smaller proportion of their very much smaller national product than is true for the more highly developed countries. The proportionally low level of investment in underdeveloped countries may be due to various factors. Frequently, though not universally, the cause of inadequate investment is the unavailability of savings.
Keywords:
SP; fund; depreciation; rate; devaluation; price; fund Agreement; exchange depreciation; exchange devaluation; competitive depreciation; trade indices; Currencies; Income; Wages; Personal income; Inflation; Europe; Asia and Pacific; Eastern Europe