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World Bank Backs Fiscal and Financial Sector Reforms in Montenegro

WASHINGTON, December 20, 2017 — The World Bank supports a package of reforms to strengthen public finance and financial sector resilience in Montenegro through a Euro 80 million guarantee approved today. The reforms are supported through a Policy-Based Guarantee (PBG) – a first in a programmatic series of two operations – which will aim to secure two to three times larger private finance and allow for orderly refinancing of the existing debt liabilities towards commercial creditors...

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