Press release: Satisfaction with the cooperation between Montenegro and international financial institutions

Minister of Finance Milorad Katnic on Friday, 21th September 2012 , met with the executive director of the IMF’s Netherlands constituency Mr. Menno Snel, who visited Montenegro in the official capacity.

Minister Katnic and Director Snel discussed about the economic and financial situation in Montenegro and the region, as well as about the relations between the Government of Montenegro and the international financial institutions. Both parties expressed their satisfaction with the quality of cooperation of Montenegro and the IMF and the World Bank as major international financial institutions, especially through the approval of DPL (or loans for development policy).

Minister Katnic informed Director Snel about the current activities of the Ministry of Finance, focused on the preparation of the budget for the next fiscal year and the economic projections for the future period.

Katnic and Snel agreed that the economic policy of Montenegro, in addition to focus on the further fiscal consolidation, must be based on supporting a stable and sustainable economic growth, and that these principles must be the priority, regardless of the unpredictability and uncertainty which comes from economic turbulences in Europe and the World.

Both sides positively commented interests from foreign investors, specifically Turkish company “Toscelik“ that, in times of crisis and uncertain circumstances, invest in Montenegrin economy.