Montenegro secures 400 million euros for fiscal reserves

Montenegro's Ministry of Finance has secured 400 million euros through an international syndicated credit arrangement to establish a fiscal reserve for 2027 and 2028. The funds are intended to mitigate refinancing risks and meet significant debt obligations, particularly in 2027 when the country faces nearly 1.2 billion euros in repayments. The credit features a seven-year maturity with an interest rate set at six-month EURIBOR plus a 2.5 percent margin.

In a separate budgetary move, the Montenegrin government has authorized the Ministry of Finance to redirect funds from the current budget reserve to the State Audit Institution (DRI). This measure aims to improve the material status of state auditors. A new regulation regarding job titles will take effect in October, and starting in 2027, auditors' salaries are expected to be aligned with those of judges.