Montenegro

CB: GDP decline rate could reach around 17%

Latest projections of the Central Bank of Montenegro indicate that GDP decline rate could reach around 17%. Having regard to the high level of uncertainty of the situation caused by COVID-19 pandemic, inaccessibility of the significant amount of data and absence of earlier experience of the kind, it has been brought to the fore that the projection is characterized by a relatively high level of uncertainty and that it is the subject of continuous update.

At the session, the Council considered and adopted Report on business performance and implementation of CB policies for August 2020. on the basis of which it was concluded that all activities of the CB implemented during the aforementioned period had been in accordance with the Working program.

“The Council adopted Decision on the amendments to the Decision on macro-prudential measures which refer to loans for physical persons. The amendment refers to the introduction of insurance policy as loan guarantee, as additional collateral. The insurance policy shall be issued by the insurance company headquartered in Montenegro, while CB will be assessing the acceptability of individual policies”, CB points out.

Today’s session adopted Decision on the amendments to the Decision on reports on payments transactions.

Amendments introduce the obligation of delivering additional data within reports payment service providers deliver to the CB, with the aim of monitoring statistics on payment operations more closely.

Members of the Council acquainted with the Report on the bankruptcy procedure in IBM bank for the period between 1 January and 31 August 2020.

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