PODGORICA (Montenegro), April 24 (SeeNews) – Montenegro's central bank, CBCG, said the International Finance Corporation (IFC) shows interest in investments in sustainable tourism, infrastructure and agribusiness in Montenegro, as well as in providing technical assistance for the development of public-private partnerships.
The cooperation between Montenegro and IFC has been additionally strengthened through the project for the construction of a bypass road in Podgorica, approved by the institution recently, the central bank said in a statement on Friday. The statement was issued after a meeting of Montenegrin officials with senior representatives of the IMF and World Bank in the framework of the 2017 Spring Meetings of the two financial institutions held in Washington April 21-23.
During a meeting with the head of the IMF mission to Montenegro, Martin Petri, Montenegro agreed on the delivery of technical support from the institution for the development of a medium-term strategy for the management of public debt as well as the introduction of additional measures in the second quarter of 2017 to facilitate fiscal consolidation.
The delegation and IMF also agreed to introduce the International Financial Reporting Standard (IFRS) 9 in 2018 to reinforce the financial stability of Montenegro, the central bank said.
The Montenegrin delegation to the 2017 Spring Meetings was led by central bank governor Radoje Zugic and finance minister Darko Radunovic.
The delegation also met with the director of IFC for Europe and Central Asia, Tomasz Telma.