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Finance Ministry: No loan required from IMF

The Ministry of Finance has not filed an application for a loan to the International Monetary Fund (IMF). Also, at the moment, it does not plan to enter into an arrangement with the financial institution when it comes to borrowing, the ministry announced yesterday, Dnevne Novine newspaper writes.

The Democrats’ vice-president, Zdenka Popovic, yesterday said that the government had submitted a loan request to the IMF. The ministry said that one should make a distinction between borrowing from the IMF and the World Bank (WB).

“Montenegro has made a credit arrangement with the WB and we intend to make such an arrangement in the future too. It is a pity that such an important party in the political scene of Montenegro does not distinguish establishing credit arrangements with the IMF and WB, or it has been about avoiding the known facts,” the ministry said, adding that there is a communication with the WB and IMF in order to plan of fiscal consolidation and achieving a balanced budget.

At yesterday’s press conference, Popovic said that the government was trying to hide from the public that all macro-economic indicators were disrupted and that they couldn’t manage economy without help.

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