Regulatory Alerts2023-01-01
Law on Settlement of Obligations and Claims in Respect of Foreign Debt and Foreign Currency Savings of Citizens
The Republic of Montenegro assumes the foreign debt obligations and foreign currency savings liabilities previously held by authorized banks, transferring these claims to the state balance sheet. The legislation mandates the conversion of these liabilities into Euro and establishes a repayment schedule for citizen savings through annual bond issuances with specific maturity dates and interest accruals. Financing for these repayments is secured through the state budget, privatization receipts, and the collection of underlying loans, while the bonds issued to citizens are made freely tradable on securities markets.
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