Montenegro’s Cabinet meeting

Podgorica, Montenegro (9 May 2014) – At yesterday’s session, the Government of Montenegro adopted the Report on implementation of the Resolution 1540 issued by the UN Security Council, as well as the Action plan for the period 2014 – 2018. Strategic goal of Montenegro is to contribute to the maintenance of the world's peace and stability through international solidarity and active engagement in the fight against terrorism, non proliferation of nuclear weapons, humanitarian and peace-keeping operations. The Government is committed to implementingrequirements adopted within international agreements on prohibition of nuclear weapons, and particularly to establishing national legal framework and administrative capacities in accordance with the UN Security Council Resolution 1540.

The Government also adopted the Information on the emission of bonds in the international market, including the refinancing (purchase or substitute) of bonds issued within the international market in 2010 and 2011. Decision on entering the international market in order to receive the funds required for the budget, testifies to Montenegro’s position in the international market, Montenegro’s Cabinet concluded on Thursday.

The report on Montenegro’s public debt and guarantees issued by 31 December 2013 was also adopted at yesterday’s meeting. The report states that the overall debt of Montenegro amounts to EUR 1.933 million or 57, 95% of the GDP.

The Government adopted the Report on the implementation of conclusions from the thematic session dedicated to structural reforms in the fields of education, health, work and social care, which took place in Kolašin on 7 – 8 March. Having in mind the significance of structural reforms for boosting economic and social development of Montenegro, the Government established permanent monitoring over dynamics and quality of the implementation of these reforms.

Among other activities, the Government approved the appointment of Ms Brigitte Stern as Montenegro’s arbitrator in the arbitration procedure before the International Centre for Settlement of Investment Disputes. The complaint against Montenegro on the alleged violation of the agreement between Montenegro, Serbia, and the Republic of Cyprus on joint stimulation and protection of investments in the Aluminium Plant Podgorica (KAP) has been submitted by the CEAC Holdings Limited from Cyprus.