01744cas a2200241 a 4500 AALejournalIMF013859 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484392249 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. European Dept. Montenegro : 2013 Article IV Consultation. Washington, D.C. : International Monetary Fund, 2013. 1 online resource (60 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This 2013 Article IV Consultation highlights that Montenegro's recovery from the collapse of the lending boom in 2008 has been slowed by the debt overhang that remains in the private sector. Output contracted in 2012 because of unusually severe winter weather early in the year, as well as a sharp decline in aluminum production as the financial position of the troubled aluminum company (KAP) continued to worsen. Activity picked up in early 2013 as more favorable weather conditions resulted in a sharp increase in hydro-based electricity production. A sustained, multi-year fiscal consolidation effort is needed to reduce the public debt burden to an appropriately low level in the medium term. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2013/271 Full text available on IMF http://elibrary.imf.org/view/journals/002/2013/271/002.2013.issue-271-en.xml IMF e-Library