Deputy Prime Minister and Minister of Finance, Igor Lukšić, Ph.D, took part in the business lunch organized by U.S. Chamber of Commerce in Montenegro

The Central Bank of Montenegro will allow the commercial banks to use up to 20% of compulsory reserves for the purchase of treasury bills, providing the liquidity for the banks for several months and resolving the payment operations problem. By purchasing issued treasury bills, banks would realize higher yield than the one realized on the basis of compulsory reserves. Since the next year will be very difficult, recapitalization of EPCG and structural reforms would provide fresh money which in a long run would assist in stabilization of domestic economy and banking sector. It is quite certain the Ministry of finance will borrow in order to finance budgetary consumption providing deposit potential until the end of the year and influence the sound functioning of the payment operations. It is not excluded the possibility of preparing scenario for the support to most vulnerable categories with the representatives of the International Monetary Fund. Effects of the Governments measures aimed at preventing the consequences of the global financial crises will be visible in the second and the third quarter of this year. The measures are aimed at decreasing taxes, increase in net income, early redemption of internal debt, abolishment of certain fees, support to entrepreneurship, as well as the readiness to provide long term financial assistance to domestic banks through the cooperation with the international financial institutions