Montenegro:Request for Purchase under the Rapid Financing Instrument; Press Release; Staff Report; and Statement by the Executive Director for Montenegro

Request for Purchase under the Rapid Financing Instrument; Press Release; Staff Report; and Statement by the Executive Director for Montenegro
Volume/Issue: Volume 2020 Issue 210
Publication date: June 2020
ISBN: 9781513548661
$18.00
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Topics covered in this book

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Industries - Hospitality Travel and Tourism , Public Finance , Economics- Macroeconomics , Exports and Imports , Banks and Banking , ISCR , CR , financing , emergency financing request , IMF lending tracker , assistance , liquidity withdrawal requirement rate , financing gap , Executive Board discussion , Fiscal stance , Capital spending , Tourism , Global , COVID-19 , Financial sector

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Summary

The COVID-19 pandemic will hit Montenegro hard, as tourism is a key industry. Fiscal space has eroded in recent years due to large public capital outlays, and the COVID-19 crisis is creating new budgetary strains as health spending and other expenditures rise, while the economic contraction lowers revenues.

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