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19/04/2011

Delegation of the Central Bank of Montenegro and the Ministry of Finance, headed by the Governor Mr. Radoje Žugić and the Minister of Finance Mr. Milorad Katnić, attended the Spring Meetings of the International Monetary Fund (IMF) and the World Bank (WB) held in Washington, D.C.

Representatives of the Montenegrin delegation had several meetings with high representatives of the WB and the IMF, as well as with the WB Vice-President for Europe and Central Asia Region, Mr. Philippe Le Houerou.

Joint conclusions from the meetings are that the macroeconomic, monetary and fiscal developments, as well as the financial system of Montenegro have improved, with positive trends expecting to continue despite many remaining challenges.

Representatives of the WB and the IMF extended their congratulations on the successful Eurobond issue and improved of credit rating of Montenegro.

Technical expert assistance was agreed at the meeting with representatives of the IMF, while the WB representatives acknowledged the progress in meeting the prerequisites for the World Bank development policy loan, for which negotiations should begin in the middle of May.