Montenegro should create dedicated ELA ‘subaccount’ – IMF staff

imf
Montenegrin authorities and IMF disagree over creation of a “subaccount”
Bruno Sanchez-Andrade Nuño

The Central Bank of Montenegro is “constrained” in its ability to provide emergency liquidity assistance (ELA), according to staff at the International Monetary Fund. But the country’s authorities feel unable to adopt their preferred measures for addressing the problem.

Montenegro adopted the euro as a currency and unit of account in 2002, but as it remains outside the eurozone, the central bank cannot independently create liquidity on its own.

“This significantly constrains the ability to

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: