The NBRB revised in 2018 its regulation on asset classification and provisioning (the Regulation). One of the main changes was the introduction of a new definition for NPLs based on the current framework of risk groups (RGs). This definition substitutes the previous term 'problem assets.' One of...

This paper examines the current state of nonperforming loans (NPLs) in Montenegro, assesses the regulatory and supervisory framework as well as the insolvency and creditor rights regime, and makes recommendations for strengthening the framework. The paper evaluates the legal, regulatory, and...

This report summarizes key findings and recommendations of two off-site visits made by Mr. Benoit Wiest, Public Financial Management Advisor at METAC, and Ms. Katja Funke, Expert, between December 2020 and April 2021. The mission worked with the Public-Private Partnerships (PPPs) unit to develop...

Sierra Leone has made significant strides to rebuild its public infrastructure after the devastating civil war, but the desperate infrastructure needs remain. At the end of the conflict in 2002, the country was left with virtually no infrastructure. Redevelopment of public infrastructure was...

This remote mission provided the authorities with advice in fiscal risk management. The mission covered three interrelated topics: (i) the Public Finance and Expenditure Management (PFEM) Law and fiscal risks oversight and management; (ii) the Stated-Owned Corporations (SOC); and (iii) the...

The economic impact of the pandemic has been much milder than initially foreseen, still the outlook remains challenging. The economy, dominated by financial services, adapted quickly to telework and benefited from unprecedented policy support, both domestically and globally. Uncertainty is...