Montenegro considers IMF agreement

Podgorica. Montenegro might apply for an International Monetary Fund /IMF/ loan provided that the country’s economic growth is between 2.5% and 0% in 2009, which is below the previous forecast of 5%, said Minister of Finance Igor Luksic.

“We are nearing a very low economic growth of between 0% and 2.5%. Despite that Montenegro’s economy will report growth in 2009 in the context of daily publications of negative news concerning European economy,” he said.

Provided that the country’s economic growth slows down and incomes record a dip, Montenegro’s government will apply for an IMF loan.

Currently Turkey and Romania are holding loan talks with IMF. The loan would help economy recover after being hit by the financial crisis.

Between 2004 and 2008 the former Yugoslav state registered average economic growth of 7%, the news website says.