Washington: Finance Minister Radunović meets with IMF and IFC officials

Washington, USA (22 April 2017) -- Delegation of Montenegro headed by Minister of Finance Darko Radunović attended the IMF and World Bank's Spring meeting which takes place in Washington on 21 - 23 April. During the first meeting day, Montenegrin Delegation met with the Head of IMF Mission for Montenegro Martin Petri and Director of the IFC for Europe and central Asia Tomasz Telma for talks on fiscal stability and economic growth.

The meeting with the Head of IMF Mission to Montenegro Petri discussed reduction of fiscal risks in the system, as well as the analysis of measures adopted within the plan aimed at reducing the public debt for 2016. Mr Petri was also informed about the effects of the programme for restructuring the tax debt which is aimed at boosting the economic growth and better collection of tax revenues from the companies. Montenegrin Delegation emphasised the country's commitment to implementing fiscal consolidation plan, thus considering the additional fiscal measures which should be incorporated into the fiscal strategy for the second quarter of 2017. 

The meeting also discussed financial parameters of the banking sector which are improved in 2016 and with a perspective for the continuing improvement in 2017. In that regard, Montenegrin Delegation informed Mr Petri about the regular activities of the Central Bank, including dynamics of drafting and adopting new laws such. These activities will significantly improve the regulatory framework for supervision in accordance with the European best practices.

When it comes to the relations between Montenegro and IFC, the officials agreed that the country and the IFC cherish good cooperation which has been additionally strengthened throughout the recently approved project for the construction of bypass road in Podgorica. The IFC is also interested in projects in other areas such as sustainable tourism, infrastructure and agribusiness and willing to provide technical support to the Government of Montenegro for development of the public - private partnership, the meeting outlined.