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WASHINGTON, December 20, 2017 — The World Bank supports a package of reforms to strengthen public finance and financial sector resilience in Montenegro through a Euro 80 million guarantee approved today. The reforms are supported through a Policy-Based Guarantee (PBG) – a first in a programmatic series of two operations – which will aim to secure two to three times larger private finance and allow for orderly refinancing of the existing debt liabilities towards commercial creditors...
In order to clarify speculations arising in regards to the recent press coverage on $1bn Chinese highway loan, Ministry of Finance and Social Welfare wishes to reiterate that public finances of State of Montenegro are in a sustainable shape and fully aligned with the convergence Maastricht criteria with respect to 3% deficit limit. As of April 15 2021, revenues and expenses are fully in line with this year’s proposed budget that presumes 2.98% fiscal deficit for this year - a steep reduction from 10%+ from the last year, reflecting the government’s efforts to reach the fiscal targets sooner that rating agencies deemed reachable only in 2023/2024. We have also decreased our gross debt/GDP ratio from 105% as of Dec 2020 to 97% currently, as well as net debt/GDP ratio from 89% in Dec 2020 to 85% as of April 2021...
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Here you can download Application Package and Information Session Notice
Here you can download Prior Information Notice
Here you can download Clarifications regarding the Application Package
Here you can download the Tender Dossier and Contract Notice