---

30/01/2020

The Council of the Central Bank of Montenegro held its 58th meeting today, chaired by Governor, Mr. Radoje Žugić.

The Council discussed and adopted the Report on the Central Bank of Montenegro Business Activities and Policy Implementation for November 2019, stating that the Central Bank of Montenegro conducted its activities during this period in line with the planned commitments set by the Central Bank's Work Program for 2019.

The Council members were briefed on the Report on Bankruptcy Proceeding at IBM Bank for the period 1 June - 31 December 2019. The bankruptcy administrator of IBM Bank presented the activities to date that were mainly related to the monetisation of assets and payment of liabilities to creditors. The Report stated that, from the moment of introducing bankruptcy in this bank (4 January 2019) to 31 December 2019, payments to the Deposit Protection Fund amounted to 16.3 million euros or 73% of the total claims towards the Fund. The bankruptcy administration was suggested to continue making efforts in the forthcoming period on carrying out the bankruptcy proceedings in the most efficient manner and to its ending as soon as possible.

The Council also discussed other current issues within its competence.