Central Banking

Yugoslav bank chief rejects Montenegro's proposals

YUGOSLAVIA - Yugoslav National Bank Governor Mladjan Dinkic said Friday that in defining a payment operations' system with Serbia, Montenegro is insisting on solutions that are without parallel anywhere in the world, adding that Serbia will not accept this because its economy would suffer losses if it did.

"Two days ago Montenegro sent Serbia 'an ersatz' solution for payment operations. This is not suited to modern payment operations and can only be applied in a country with one currency, whic