Montenegro plans to issue government bonds on the domestic market next year in two rounds. The first round will be dedicated to citizens, i.e., individuals, while the second round will target private investors and other legal entities.
This information is outlined in the Government’s adopted document on the basic framework for the 2025 domestic government bond issuance.
Following extensive analysis, it was concluded that the bond issuance should primarily be conducted off-exchange through the network of commercial banks in Montenegro. The subscription for the government bonds will take place at the counters of these banks, simplifying the process and ensuring greater accessibility for bond subscriptions.
The issuance will proceed in two rounds. The first round will be aimed at the population, i.e., adult citizens of Montenegro, as well as potentially adult foreign nationals who are residents of Montenegro. The second round will be organized for professional investors and other legal entities if the entire bond issue is not fully subscribed in the first round.
Given that the Draft Law on the Budget of Montenegro for 2025 and the Draft Decision on Montenegro’s Borrowing for 2025 are still in the adoption process, and thus subject to changes, conclusions have been adopted that provide the initial framework for the Ministry of Finance to begin negotiations and preparations. This will allow for an immediate bond issuance once the relevant acts are passed, in line with the provisions and restrictions set forth in the Budget Law and the Borrowing Decision for 2025, as well as a special decision by the Government of Montenegro.
