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Europe > Montenegro

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Cover IMF Staff Country Reports
Federal Republic of Yugoslavia: 2002 Article IV Consultation, Third Review Under the Stand-By Arrangement, and Request for an Extended Arrangement—Staff Report; Staff Supplement; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for the Federal Republic of Yugoslavia
International Monetary Fund
This paper assesses the Federal Republic of Yugoslavia’s (FRY) 2002 Article IV Consultation, Third Review Under the Stand-By Arrangement (SBA), and a Request for an Extended Arrangement. Despite the impressive achievements since late 2000, when FRY succeeded to membership in the IMF, the challenges facing the authorities remain daunting. The FRY authorities’ medium-term program of stabilization sets a good basis for achieving sustainable growth and a viable external position, and deserves the continued support of the IMF through completion of the third review under the current SBA and approval of the proposed extended arrangement.
Keywords:
ISCR; CR; Yugoslavia; overstaffed enterprise sector; staff; state; bank reform; authorities of the Federal Republic of Yugoslavia; Montenegrin authorities; FRY authorities; exchange system of the Federal Republic of Yugoslavia; Commercial banks; Debt service; Exchange rates; Global
Cover IMF Staff Country Reports
Federal Republic of Yugoslavia: Request for a Stand-By Arrangement
International Monetary Fund
The new government of the Federal Republic of Yugoslavia has formulated and started to implement an ambitious program of stabilization and reform with impressive speed and commitment. The program provides for macroeconomic policies designed to reduce inflation and support reconstruction coupled with bold reforms. The policy achievements so far have been impressive. Prudent policies alone cannot ensure progress toward sustainable growth and external viability. The program sets the basis for the country in achieving sustainable output growth and a viable external position.
Keywords:
ISCR; CR; FRY authorities; Yugoslavia; stand-by credit; financial asset; agreement; FRY economy; executive board discussion; tariff schedule; Commercial banks; Arrears; Debt service