Montenegro : 2013 Article IV Consultation

Publication Date: August 28, 2013
Electronic Access: Free Full text (PDF file size is 1,405KB).
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Summary: This 2013 Article IV Consultation highlights that Montenegro’s recovery from the collapse of the lending boom in 2008 has been slowed by the debt overhang that remains in the private sector. Output contracted in 2012 because of unusually severe winter weather early in the year, as well as a sharp decline in aluminum production as the financial position of the troubled aluminum company (KAP) continued to worsen. Activity picked up in early 2013 as more favorable weather conditions resulted in a sharp increase in hydro-based electricity production. A sustained, multi-year fiscal consolidation effort is needed to reduce the public debt burden to an appropriately low level in the medium term.
Series: Country Report No. 13/271
Subject(s): Article IV consultation reports | Economic growth | Tourism | Credit demand | Fiscal policy | Fiscal consolidation | Public debt | Government expenditures | Fiscal reforms | Bank resolution | Economic indicators | Staff Reports | Montenegro

Publication Date: August 28, 2013
ISBN/ISSN: 9781484392249/1934-7685 Format: Paper
Stock No: 1MNEEA2013001 Pages: 60
US$18.00 (Academic Rate:
US$18.00 )
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