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28.03.2011.

Interview of the Minister of Finance, Milorad Katnić, for Economist

Interview of the Minister of Finance, Milorad Katnić, for Economist The role of the IMF changed significantly under the influence of the crisis, which in addition to the changes in the financial capital and voting powers distribution, resulted in launching of a “more resilient“ credit lines. In late September 2010, the IMF had introduced the Precautionary Credit Line (PCL), i.e. the precautionary line. During the IMF and the World Bank annual meetings held last year in Washington, the PCL was presented to Montenegro. However, the formal arrangement with the IMF was not subjected to discussions since our goal was to finance budgetary needs through the Eurobonds issue...

25.03.2011.

Study "Competitiveness of Montenegrin Economy"

Here you can download study "Competitiveness of Montenegrin Economy"...

21.03.2011.

Interview of the Minister of Finance, Milorad Katnic, for "Bankar"

Interview of the Minister of Finance, Milorad Katnic, for "Bankar"

The circles of so called debtors and creditors’ relationships have been created. One should be careful when considering the possibility of introducing multilateral compensation as an instrument. Credit growth is not only the consequence of the bank’s readiness to grant loans, but it arises also from the existence of sufficient level of credible and profitable projects. The cooperation between the banks and the Ministry of Finance has been very successful on an ongoing basis. Currently, we are under preparation of the new issue of Eurobonds which should be realised in the first half of the year. The arrangement with IMF through credit facility... Mental transition is the slowest one and the most difficult to achieve. We can speak about gradual recovery after recession – this scenario anticipates moderate recovery and growth of 2.5-4.0 percentages in period 2011-2013...

15.03.2011.

Press Release: Fiscal Data as of February 2011

As of February 2011, the current revenues of the Budget of Montenegro amounted to EUR 72,7 million, being bellow the planed ones by 8,1% for the aforementioned month. The current revenues declined by 4,4%, compared to February 2010, mainly as the result of the tax debt increase...

14.03.2011.

Press Release: Linklaters Selected as Legal Advisor, JP Morgan and HSBC as Joint Lead Managers of the Eurobond Issue

The Ministry of Finance has selected the legal advisor for the new Eurobond project issue, the Law Firm Linklaters London, a former legal adviser in the Eurobond issue project 2010, whereas two recognized banks JP Morgan and HSBC were selected as Joint Lead Managers...

11.03.2011.

Government cuts red tape on building permits

The set of amendments reduces the number of procedures for the issuance of building permits from 14, registered by World Bank’s Doing Business team, to only two...

07.03.2011.

Annual Report of the Ministry of Finance for 2010

Annual Report of the Ministry of Finance for  2010

Annual Report of the Ministry of Finance for 2010...

04.03.2011.

Fear of flying

Fear of flying

For quite some time, the professional and the unprofessional public is dealing with the exhaustion of Montenegrin development model based on FDI. Not entering the legitimacy of these initiatives, although with unclear proposals with regard the possible development funding, this article is aspiring only to provide for some observations on the relevant dimensions of the problem...

24.02.2011.

European Commission commends Montenegro’s Economic and Fiscal Programme

European Commission commends Montenegro’s Economic and Fiscal Programme

Antonio Sanchez, economic analyst at DG ECFIN, especially commended the structural reforms Montenegro proposes in its 2011-2013 EFP submitted to the EC in late January. He pointed out the importance of harmonising the EFP with the Budget for 2011, adding that a special emphasis should be put on the design of alternative macro-economic and fiscal scenarios...

22.02.2011.

Preliminary Conclusions of the Mission, February 21, 2011

Preliminary Conclusions of the Mission, February 21, 2011

After contracting 22 months, industry began to grow again in the second half of 2010, and tourism registered a relatively strong rebound during the summer of 2010. Going forward, the recovery is projected to gain momentum, supported by high world prices and demand for Montenegro’s industrial exports, new tourism projects, and increased confidence in the financial system...