Home / Knowledge / News / Textiles / Montenegro joins the IMF as 185th member

Montenegro joins the IMF as 185th member

Jan '07
The Republic of Montenegro has become the 185th member of the International Monetary Fund (IMF). The Articles of Agreement were signed in Washington DC today by Mr. Ljubiša Krgovic, President of the Council of the Central Bank of Montenegro. Montenegro's Finance Minister, Igor Luksic attended the signing ceremony.

The Republic of Montenegro's initial quota1 in the IMF is SDR 27.5 million (about US$41.2 million). With the admission of Montenegro, total members' quotas in the IMF rises to SDR 216.75 billion (about US$325.01 billion).

IMF Managing Director Rodrigo de Rato issued the following statement to mark Montenegro's membership in the Fund:

"Finance Minister Luksic, Governor Krgovic and other distinguished delegates; it is an honor for me today to welcome Montenegro to the International Monetary Fund, as our 185th member. Today's events—marking Montenegro's membership in the IMF and World Bank—represent another decisive step in the process of nation building."

"Montenegro is claiming its place as a respected member of the global community of nations, and it is demonstrating its commitment to meet the responsibilities and reap the benefits of international cooperation.”

"Montenegro's transition to independence has been impressive, economic activity has recovered, and the country has increasingly become the focus of investor interest. Yet the future holds many challenges."

"Achieving a sustained increase in prosperity will require sound economic management, in order to establish the conditions for economic growth and stability—not least in harnessing the benefits of strong foreign direct investment and tourism for the country's future development.”

Must ReadView All

Pic: Shutterstock

Textiles | On 20th Sep 2021

Turkmenistan, Uzbekistan agree to raise trade turnover to $1 bn

Uzbekistan and Turkmenistan recently agreed to raise bilateral trade...

Pic: Shutterstock

Textiles | On 20th Sep 2021

MPs, peers call on UK govt to ban fur sales & imports

Over 100 cross-party members of Parliament (MPs) and peers have...

Pic: Canopy Planet

Apparel/Garments | On 20th Sep 2021

Over 400 brands now part of Canadian organisation Canopy's initiatives

Canopy has announced that over four hundred brands and retailers are...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchains will be in heavy use by early adopters by 2025

Textile Industry, Head honchos

Textile Industry
Head honchos

Uniform designing is a numbers game

Gaurav Davda, Jindal Worldwide Ltd

Gaurav Davda
Jindal Worldwide Ltd

Indian MMF sector to become globally competitive

Barry Goodwin,

Barry Goodwin

UK based Amba Projex Ltd designs, manufactures, and installs industrial...

Klaus Bergmann,

Klaus Bergmann

German company Erbatech GmbH develops, designs and manufactures high end...

Abdullah Mohammad Saad Hossain,

Abdullah Mohammad Saad Hossain

Saad Group is a leading vertically integrated textile group in Bangladesh. ...

 Natacha Defeche, Edana

Natacha Defeche

Since 1971, EDANA, the International association serving the nonwovens and ...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Anjali Bhaskar, Samatvam

Anjali Bhaskar

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

Raghavendra Rathore, Label Raghavendra Rathore Jodhpur

Raghavendra Rathore
Label Raghavendra Rathore Jodhpur

Being one of the first designers to use the "Brand India" positioning for...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha & Jigar blends India's unique handcrafts...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

September 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Advanced Search