Minister Damjanović holds meetings with international banks and investors in Marrakech

As part of the annual meetings of the World Bank and International Monetary Fund (IMF) in Marrakech, a delegation led by Minister of Finance Aleksandar Damjanović held a series of meetings with representatives of renowned global commercial and investment banks. The meetings included discussions with LBBW, Citigroup, and Bank of America, during which the current conditions in the global financial market and Montenegro's need for additional financing were deliberated.

Emphasizing the positive effects of the fiscal policy measures implemented so far, characterized by prudent and rational public finance management, which have led to revenue growth and the stabilization of current spending, Minister Damjanović noted that Montenegro's borrowing needs for the current year have significantly decreased compared to the levels approved by the Parliament. However, achieving long-term sustainability requires additional caution in terms of securing budget funds for continuing the financing of previous obligations and creating a fiscal reserve. Therefore, discussions with credible market participants provide the most realistic overview of available options.

Considering the globally unstable financial and political context, bank representatives presented current financial market trends and the conditions for potential arrangements accessible to Montenegro at this moment. They expressed a keen interest in partnering with Montenegro to formulate a financial framework for the current and next year, with the belief that Montenegro is an attractive investment destination.

On the same day, a meeting was held with Mr. Carlo Monticelli, the Governor of the Council of Europe Development Bank (CEB), discussing the ongoing projects financed by CEB in Montenegro and Montenegro's participation in increasing the bank's capital. Minister Damjanović took the opportunity to reaffirm Montenegro's readiness to host the joint annual meetings of the CEB's Governing Board and Administrative Council in 2025.

The delegation from Montenegro, led by the Minister of Finance, presented the situation in Montenegro to key global investors. Approximately fifteen of the world's largest investors and financial institutions, with assets under management exceeding 12 trillion USD, attended a symposium dedicated to Montenegro within the framework of the annual IMF assembly, organized by Bank of America.

Minister Damjanović and the Ministry of Finance team presented the state of the Montenegrin economy to investors and called for investments in Montenegro and the development of relationships within international financial markets.