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Europe > Montenegro

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Cover IMF Staff Country Reports
Montenegro: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Montenegro
International Monetary Fund. European Dept.
COVID-19 hit the economy hard, but a strong recovery is underway. Public debt, already elevated before the pandemic, has increased further. The government has embarked on a reform program ‘Europe Now’, which aims to arrest outward migration through a sharp minimum wage increase, labor tax wedge reduction, and the introduction of a progressive tax code. The financial sector appears to have withstood the COVID-19 shock well.
Keywords:
production GDP estimate; staff growth estimate; authorities' baseline scenario; Montenegrin authority; taxation regime; Government debt management; Labor taxes; Europe; 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