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Financial literacy can help us avoid bankruptcy

CBCG

The Central Bank of Montenegro (CBCG), along with the International Monetary Fund (IMF) and Organization for Economic Cooperation and Development (OSCE), is soon supposed to check on the level of financial (il)literacy in Montenegro, writes Pobjeda, a daily.

“We plan to conduct a research on financial literacy in Montenegro and also to draw up the national strategy for financial education,” CBCG clarified for Pobjeda daily when asked whether the financial literacy in Montenegro has been on a rather low level.

There are no quantitative indicators suggesting the level of financial literacy in our country, according to CBCG.

When asked if the financial illiteracy was one of the main causes of frequent bankruptcy of citizens who started their own business or those who took Swiss Franc loans, CBCG noted that citizens who were well informed were more careful.

 

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