Narrow Your Choices

Refine By Topic

Refine By Series

Refine By Language

Refine By Date

—

Refine By IMF Taxonomy

Refine By JEL Taxonomy

Refine by LOC Taxonomy

Refine By THEMA Taxonomy

  • Print
  • Save

Europe > Montenegro

You are looking at 1 - 10 of 13 items for :

  • Type: Journal Issue x
  • Business and Management x
  • Banks and banking x
Clear All Modify Search
Cover IMF Staff Country Reports
Montenegro: Technical Assistance Report-Report on the Monetary and Financial Statistics Mission
International Monetary Fund. Statistics Dept.
This Technical Assistance Report on Montenegro highlights work of the mission with the authorities which included compiling monetary data based on the IMF standardized report forms (SRF), 1SR, and SRF 2SR, for depository corporations. While the depository corporations sector currently dominates the financial system in Montenegro, the Central Bank of Montenegro (CBCG) should also ensure the availability of source data for the compilation and dissemination of a quarterly Other Financial Corporations (OFC) survey given the sector’s potential to grow. The mission found the CBCG’s current data collection framework is broadly appropriate for the compilation of monetary data in line with the MFSMCG 2016 for the depository corporations’ sector, but further work is needed for OFCs. The mission advised on the correct treatment of negative interest accruals (due to negative interest rates) to ensure that the negative accruals diminish the value of the asset.
Keywords:
ISCR; CR; CBCG staff; financial system; CBCG official; CBCG's chart of accounts; CBCG management; holdings of Eurobond; holdings of government; CBCG's Directorate for Accounting; CBCG's holding; holdings of debt securities; interest receivables; CBCG's Information Technology Department; fair value; Monetary statistics; Chart of accounts; Commercial banks; Financial statements; Currencies
Cover IMF Staff Country Reports
Montenegro: Staff Report for the 2012 Article IV Consultation
International Monetary Fund
This 2012 Article IV Consultation highlights that three years after the sudden end of Montenegro’s boom, there has been considerable progress toward recovery. Fiscal imbalances have proved difficult to rein in, reflecting a large fall in revenue after the collapse of the boom. Executive Directors have commended the authorities’ efforts to stabilize the economy, and welcomed the progress made since the financial crisis. Directors have also recognized the sizable public expenditure adjustment over the past few years, but underscored the need for further high-quality deficit reducing measures.
Keywords:
ISCR; CR; commercial bank loan; staff appraisal; IMF staff representative; financing risk; deficit; privatization contract; Loan guarantees; Labor markets; Europe; Global
Cover IMF Working Papers
The Impact of the Global Crisison South-Eastern Europe
Francesco Spadafora
,
Mr. Emidio Cocozza
, and
Mr. Andrea Colabella
This paper analyzes the impact of the global crisis on six South-Eastern European countries. The main objective is to compare macro-financial conditions and policies in the run-up to the crisis as well as to compare the policy responses to it, so as to highlight, inter alia, possible country-specific constraints. While sharing a common pre-crisis pattern of strong capital inflows and robust growth, a key difference in the conduct of macroeconomicpolicies is that some countries adopted expansionary (and procyclical) fiscal policies. These moves exacerbated external vulnerabilities and compromised the ability to discretionarily use the fiscal instrument in acountercyclical fashion.
Keywords:
WP; current account; budget deficit; foreign currency; financial support; core inflation; international capital flows; current account adjustment; IMF financial support; FYR Macedonia; transmission mechanism; short-term debt; Current account deficits; Budget planning and preparation; Government debt management; Global; Western Europe
Cover Summary Proceedings of the Sixty-First Annual Meeting of the Board of Governors, 2007
Summary Proceedings of the Sixty-First Annual Meeting of the Board of Governors, 2007
International Monetary Fund

Abstract

The speeches made by officials attending the IMF–World Bank Annual Meetings are published in this volume, along with the press communiqués issued by the International Monetary and Financial Committee and the Development Committee at the conclusion of the meetings.

Keywords:
AS; Rodrigo de Rato; y Figaredo; country; economy; la Barra Munoz; executive directors; IMF surveillance; board of governors of the International Monetary Fund; subscription of the Republic of Montenegro; public goods; Climate change; Poverty reduction; Poverty reduction and development; Income; Global; Africa; Caribbean; Sub-Saharan Africa; West Africa
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 Country Reports
Serbia and Montenegro: First Review Under the Extended Arrangement
International Monetary Fund
This paper assesses Serbia and Montenegro’s First Review Under the Extended Arrangement (EA). Serbia and Montenegro’s economic and policy performance has remained good under the current EA, but daunting challenges lie ahead. Macroeconomic policies need to be carefully calibrated to address potential risks to macroeconomic and financial instability, while the task of economic restructuring will be increasingly difficult. The IMF staff welcomes the authorities’ commitment to address delays in the adoption of reform legislation that led to nonobservance of some structural benchmarks and notes the need to avoid new slippages.
Keywords:
ISCR; CR; authorities of Serbia and Montenegro; enterprise privatization procedure; government; revenue effort; net indebtedness; policy implementation; Privatization; Currencies; Monetary base; Exchange rates; Europe
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: Selected Issues and Statistical Appendix
International Monetary Fund
This Selected Issues paper and Statistical Appendix for the Federal Republic of Yugoslavia outlines the progress made in the fiscal area since late 2000, focusing on the overall fiscal adjustment (developments in revenue and expenditure) and reforms of the tax system and social spending. The paper also presents an overview of financial sector reforms in Serbia and Montenegro, elaborates on the closure of the four largest state-owned banks in Serbia, and outlines progress in strengthening prudential supervision in both republics.
Keywords:
ISCR; CR; foreign currency; interest rate; sales tax; foreign exchange; exchange rate; tax collection; broad money; enterprise compensation; monetary policy; book value; balance sheets; banking sector; foreign direct investment; Privatization; Debt service; Eastern Europe; Europe; Global
Cover IMF Staff Country Reports
Federal Republic of Yugoslavia: Second Review Under the Stand—By Arrangement and Modification of Performance Criteria
International Monetary Fund
This paper highlights the Federal Republic of Yugoslavia’s Second Review Under the Stand-By Arrangement and Modification of Performance Criteria. Economic activity is recovering from low levels in the Republic, while progress has been made in lowering inflation. Adjusting for large increases in administered prices and indirect taxes, core inflation is tentatively estimated at about 15–20 percent. The balance of payments feature a widening trade deficit and robust invisible receipts. The authorities are grateful for the wide range of technical assistance they received from the IMF and the World Bank.
Keywords:
ISCR; CR; government; Yugoslavia; bank; budget; stand-by credit