May 20 (SeeNews) - Montenegro's central bank, the CBCG, has approved a partial extension of the three-month moratorium on the repayment of loans introduced on March 21 to limit the economic impact of the coronavirus crisis, it said on Wednesday.
Banks can approve a new moratorium on loan repayment for up to 90 days to loan users whose financial situation was negatively affected by the coronavirus crisis, the central bank said in a statement.
The lenders are obliged to publish more detailed conditions for approving the moratorium and the manner of applying for it on their websites by June 1, the central bank said.
The three-month moratorium on the repayment of loans is expected to increase the liquidity of individuals and legal entities by approximately 150 million euro ($164 million), the central bank added.
The moratorium allows the repayment of loans to banks, financial leasing companies, and the Investment-Development Fund of Montenegro (IRF) to be postponed at the request of citizens and businesses.
($ = 0.9131 euro)