The Montenegrin government has issued €850 million in state bonds on the London Stock Exchange for a seven-year period with an interest rate of 5.125%.
Finance Minister Novica Vuković previously stated, during the adoption of this year’s budget, that new borrowing is necessary to repay existing debts. At least €830 million is required to cover obligations due this year, including €500 million in bonds issued in 2018, as well as repayments to the World Bank, IMF, Exim Bank, and Deutsche Bank.
For 2025, the government has planned around €900 million in new borrowing.
Over the next three years, Montenegro’s total debt is expected to exceed €3 billion, as more than €2 billion in loans are set to mature during this period. The government insists that these funds will not be used for current expenditures but solely for debt repayment and capital investments.
