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Montenegrin delegation ends participation in spring meetings of World Bank and IMF- areas of further cooperation agreed

Montenegrin delegation ends participation in spring meetings of World Bank and IMF- areas of further cooperation agreed
Published date 15.04.2019 10:58 | Author PR Service

Ispis Print


Delegation of Montenegro, headed by Minister of Finance Darko Radunović and the Governor of the Central Bank of Montenegro Radoje Žugić, finished their participation in the spring meetings of the International Monetary Fund and the World Bank.

During the last day of this year's spring meetings, they met with Deputy Executive Director of the International Monetary Fund Tao Zhang. The meeting confirmed the continuation of the implementation of measures important for further strengthening of fiscal stability in Montenegro. Deputy Executive Director Zhang welcomed the undertaking the measures towards strengthening financial stability and pointed out that the introduction of bankruptcy in two banks in Montenegro proves that the country's supervision works well.

Representatives of the Montenegrin delegation also met with Deputy Director of the Fiscal Affairs Department at the International Monetary Fund and the expert teams of this sector, who provide technical assistance to the Ministry of Finance and the Public Revenues Administration of Montenegro. The meeting analysed in detail the effects of the current technical support of the IMF for tax policy reforms, with a focus on support for the Public Revenues Administration reform in order to strengthen administrative capacity to implement the legal framework for public private partnership, and the effects of expert missions for tax policy analysis, tax burden of work and tax exemptions. It was agreed in which areas it is necessary to continue the technical support of the IMF, and in which, such as public-private partnerships, it is necessary to seek for the optimal mechanism of technical assistance that will strengthen the administrative capacities of the Ministry of Finance.