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Pursuant to the Law on Default Interest Rate (OGM 83/09 and 75/18), it is prescribed that the default interest rate shall be determined semi-annually and calculated annually as the basic default interest rate established by the European Central Bank for the main refinancing operations, increased by a certain amount of percentage points in accordance with Article 3 of the Law.

According to provisions stipulated in Article 5 of the Law, the default interest rate shall be established by the Central Bank of Montenegro and posted on its website on the first business day of the semi-annual period it relates to, and published in the “Official Gazette of Montenegro“ as well.

The enforcement of the Law on Default Interest Rate commenced on 1 January 2010.

In accordance with the aforementioned Law, the following decisions on establishing default interest rate were made: