Central Bank of Montenegro - Annual Report 2005

Montenegro became a good example of a dynamic transitional economy, according to Ljubisa Krgovic, the president of the Central Bank of Montenegro.

There is a lot to back up the president's confidence. Inflation and unemployment fell and economic growth accelerated. Two well-known banks, Societe Generale and Hyo Alpe Adria, set up in the country. And Standard & Poor's, the rating agency, gave the jurisdiction a positive rating.

Banking industry and payment systems reforms continued in 2005, with

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