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Europe > Montenegro

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Cover IMF Staff Country Reports
Montenegro: 2018 Article IV Consultation-Press Release and Staff Report
International Monetary Fund. European Dept.
This 2018 Article IV Consultation highlights that Montenegro’s economy is growing strongly, boosted by the implementation of large investment projects, including the construction of the Bar-Boljare highway. Growth should continue over the medium term, albeit at a more moderate pace as highway construction ends. The IMF staff projects the economy to expand by 3 percent in 2018 and 2.5 percent in 2019, with fiscal consolidation also acting as a moderate drag on growth. Although the implementation of large publicly financed infrastructure projects has added to economic growth, the accompanying use of fiscal resources has contributed to a large increase in government debt. Economic growth should remain strong in 2018, notwithstanding fiscal consolidation, and maintain momentum over the medium term.
Keywords:
ISCR; CR; government; Montenegro; debt; GDP; surplus; CPI indexation; IMF TA; pension sustainability; government finances; Montenegrin authorities; government debt; public-sector workforce; Fiscal consolidation; Fiscal stance; Capital spending; Global
Cover IMF Staff Country Reports
Montenegro: 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Montenegro
International Monetary Fund. European Dept.
This report highlights the recent economic developments and outlook and risks related to the Montenegro’s economy. It also discusses policies which need to be implemented to boost growth. Montenegro’s economy has rebounded in the past year, and strong growth looks set to continue in 2016, at slightly more than 4 percent. Although the government’s growth strategy can bring substantial gains, it also carries sizable risks, notably to the public finances. The authorities have taken various policy measures to (1) contain fiscal sustainability risks, (2) sustainably revitalize credit conditions, (3) safeguard financial sector stability, and (4) boost competitiveness and economic flexibility.
Keywords:
ISCR; CR; asset; production GDP estimate; asset quality; consumer price index; Montenegro; article IV staff; growth strategy; Montenegro's economy; Montenegro authorities; insurance oversight framework; assessment of the resilience; Credit; Public sector wages; Global
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 Survey
IMF Survey, Volume 36 Issue 02
International Monetary Fund. External Relations Dept.
Montenegro, IMF membership, Peru loan, Lebanon, Murilo Portugal interview, IMF technical assistance (TA), Vietnam and WTO, Colombia, foreign direct investment, gender and economics, Arab economies, France and 35-hour week.
Keywords:
SV; SDR; SDR interest rate; center; FDI; IMF quota; UNDP Inter-American Development Bank; WTO accession; Washington conference; Foreign direct investment; Women; Labor force; East Asia; Africa; Global; Middle East; North Africa; East Africa