Monday, 06 July 2020 16:00

Committee on Economy, Finance and Budget holds its 120th Meeting

Consultative hearing

At its 120th meeting, the Committee on Economy, Finance and Budget held a consultative hearing on: “Issues of implementing the moratorium on repayment of credit obligations of Montenegrin citizens and the role of the Central Bank of Montenegro in this process”.

On behalf of the Central Bank of Montenegro, the hearing was attended by the following:  Mr Radoje Žugić, Governor, Mr Miodrag Radonjić, Vice Governor, and Ms Zorica Kalezić, Vice Governor of the Central Bank of Montenegro (CBCG).

In his introductory remarks, the Governor of the CBCG informed the Committee, among other things, about the activities of the CBCG in the first quarter of 2020, focusing on activities undertaken in the period of the COVID-19 pandemic.

During the hearing, the Committee members had the opportunity to obtain information about the following: the introduction of an extension of the loan repayment period, the so-called moratorium; the amount of funds and the number of users who have used the opportunity to defer payment of credit obligations; the amount of calculated interest on loans covered by the moratorium; activities of the CBCG with international financial institutions; the ratio of active and passive interest rates with commercial banks; the amount of banking fees with commercial banks; the number of employees in the banking sector; the amount of the average interest rate; the liquidity of banks and measures that could be undertaken in the event of a significant deterioration of the overall economic outlook and unpredictability in relation to the COVID-19 pandemic, etc.