In the second quarter of this year, which was marked by the coronavirus crisis and lockdown, the Government of Montenegro repaid debts amounting to 70.2 million euros, according to the latest official data from the Ministry of Finance.
5.55 million euros relate to debt repayment to residents, while debt repayment to non-residents amounted to 35.10 million euros.
Through budget financing, the purchase of military equipment, and financing of capital investments, the state had to borrow 369.3 million euros over the same period.
External debt amounted to 3.1 billion euros, or 67.40% of GDP, while domestic debt stood at 559.38 million euros, or 12.14% of GDP. Deposits at the end of the second quarter of 2020 amounted to 379.62 million euros, including 38,477 ounces of gold worth 60.49 million euros, or 8.24% of GDP.
In the second quarter of 2020, 349.9 million euros were withdrawn for the implementation of infrastructure and development projects, as well as for budget financing.
In the second quarter of 2020, five loan agreements were concluded with foreign creditors for a total of 369.3 million euros.
Of the 3.66 billion-euro debt, Montenegro owes the most on eurobonds — 1.22 billion euros — and 677.88 million euros to China’s Exim Bank.
Among the main creditors, Montenegro owes the International Bank for Reconstruction and Development 182.77 million euros, the European Investment Bank 103.95 million euros, and the Paris Club of Creditors 74.55 million euros.
In addition, Montenegro owes 36.86 million euros to the German development bank KfW and 42.11 million euros to Credit Suisse Bank.
In March of this year, Montenegro owed the European Commission 300,000 euros, but in June it repaid the full amount.