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Europe > Montenegro

You are looking at 1 - 7 of 7 items for :

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Cover IMF Staff Country Reports
Republic of North Macedonia: Selected Issues
International Monetary Fund. European Dept.
Selected Issues
Keywords:
growth acceleration plan; investment trend; deviation from baseline; IMF government finance statistics database; investment plan; Public investment spending; Value-added tax; Infrastructure; Global
Cover Regional Economic Issues, April 2015, Europe
Regional Economic Issues, April 2015, Europe
The Western Balkans: 15 Years of Economic Transition
International Monetary Fund. European Dept.

Abstract

This report analyses the main economic developments and achievements in the Western Balkan countries, and lays out the key macroeconomic policy challenges for the future.

Keywords:
REO; western Balkan countries; Balkans; country; economy; economic growth; IMF staff estimate; foreign exchange; fiscal policy; IMF assistance; Balkan economy; private sector; Credit; Labor markets; Capital inflows; Credit booms; Inflation; Global; Europe; Baltics
Cover IMF Staff Country Reports
Montenegro: 2011 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Montenegro
International Monetary Fund
Since its independence in 2006, Montenegro has experienced an economic and financial roller coaster ride. The baseline is predicated on continued improvements in cost competitiveness and productivity-raising foreign direct investment (FDI). Avoiding a relapse into recession will thus require strengthening the health of the banking system and removing impediments to restructuring the economy. Montenegro’s attractiveness to investors will depend on reducing macroeconomic and structural vulnerabilities. The business environment needs to be further improved. Redressing solvency issues and improving liquidity were jointly seen as priority tasks.
Keywords:
ISCR; CR; staff recommendation; authority; staff; authorities of Montenegro; policy effort; swift response; fund team; Commercial banks; Income; Credit; Personal income; Government finance statistics; Global; Europe
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 Country Reports
Serbia and Montenegro: Fourth Review Under the Extended Arrangement (EA), Financing Assurances Review, Request for Waivers, and Modification of an end-December 2004 Performance Criterion
International Monetary Fund
The Fourth Review Under the Extended Arrangement, Financing Assurances Review, and Request for Waiver of Performance Criteria for Serbia and Montenegro are discussed. The agreed tighter fiscal, monetary, and incomes policies should cool off wage and credit growth, which are driving the demand for imports. The bold resumption of structural reforms should over time help increase exports, which remain exceptionally low in reference to GDP. The fragile political situation could affect the ability of the reformist minority government to press ahead with bold reforms.
Keywords:
ISCR; CR; prefix; lending; fiscal policy; credit growth; staff appraisal; consumer lending; expenditure side; widening current account deficit; Privatization; Wages; Eastern Europe; Global
Cover IMF Staff Country Reports
Serbia and Montenegro: Third Review Under the Extended Arrangement and Requests for Waiver of a Performance Criterion and Rephasing of Purchases
International Monetary Fund
This paper examines Serbia and Montenegro’s Third Review Under the Extended Arrangement and Requests for Waiver of Performance Criterion. Serbia and Montenegro’s recent economic performance has been mixed, combining excellent progress in some areas with an uncomfortably large current account deficit and modest growth in output and exports from low levels. The envisaged tightening of fiscal policy is broadly appropriate—albeit overly reliant on revenue measures. Achieving the fiscal deficit target will help narrow the current account deficit and place the fiscal and external accounts on sustainable paths.
Keywords:
ISCR; CR; policy; inflation objective; authority; SDR; macroeconomic policy; authorities of Serbia and Montenegro; privatization revenue; executive board discussion; government in Serbia; Privatization; Commercial banks; Monetary base; Global
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