English

More than 21 million EUR of loans have been restructured

CBCG

Debts restructuring amounted 21.465.932 EUR. Around 28 loans taken by legal entities and 14 loans taken by physical persons have been restructured.

“Now, the completion of restructuring follows, or quitting it”, said the representatives of the Central Bank of Montenegro.

The Law on the agreed financial debt restructuring towards financial institutions who was adopted three years ago, and amended last year, aims to regulate conditions and the way of paying debts which entrepreneurs, physical persons and legal entities have to financial institutions and other creditors. Financial restructuring is implemented voluntarily, with the consent of both creditors and users of the credit.

Last year’s amendments of this Law had very significant benefits of the stimulation of voluntary financial restructuring. Apart from the reduction of bad loans, it also had preventive effect.

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