Montenegro’s Monetary – Exchange and Foreign Trade Reforms – A Brief Review

On November 2, 1999, Montenegro began a major currency reform leading to the introduction of the German mark as the legal tender. This and the subsequent liberalization of Montenegro's monetary – exchange and trade regimes led to the introduction of the euro in 2002. But there is very limited, reliable published information on these currency reforms. This paper attempts to fill this gap by providing a brief overview of the context, motivation and implementation of these reforms as of early 2002