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Europe > Montenegro

You are looking at 1 - 2 of 2 items for :

  • Type: Journal Issue x
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Cover IMF Staff Country Reports
Montenegro: Request for Purchase under the Rapid Financing Instrument; Press Release; Staff Report; and Statement by the Executive Director for Montenegro
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.
Keywords:
ISCR; CR; financing; emergency financing request; IMF lending tracker; assistance; liquidity withdrawal requirement rate; financing gap; Executive Board discussion; Fiscal stance; Capital spending; Tourism; Global; COVID-19; Financial sector
Cover IMF Staff Country Reports
Montenegro: Financial Sector Assessment Program-Framework for NonPerforming Loans Workout and Insolvency and Creditor Rights-Technical Note
International Monetary Fund. Monetary and Capital Markets Department
This paper examines the current state of nonperforming loans (NPLs) in Montenegro, assesses the regulatory and supervisory framework as well as the insolvency and creditor rights regime, and makes recommendations for strengthening the framework. The paper evaluates the legal, regulatory, and supervisory regimes in four key areas: (1) creditor rights and enforcement systems (for secured and unsecured credit); (2) debt recovery and informal enterprise workout practices; (3) formal insolvency system (liquidation and reorganization proceedings); and (4) effectiveness of the relevant institutional, regulatory, and supervisory frameworks in implementing laws, regulations, and supervisory requirements in this area. The local and regional boom-bust cycle has left a legacy of high NPLs in Montenegro.
Keywords:
ISCR; CR; bank account; credit risk; management practice; mortgage registration procedure; coverage ratio; resolution strategy; enforcement procedure; NPL resolution; enterprise restructuring; resolution practice; promissory note; debtor's house exemption; management goal; NPL portfolio; Nonperforming loans; Mortgages; Loans; Collateral; Debt restructuring