March 17 (SeeNews) - Montenegro's central bank plans to make it easier for banks to restructure bad loans, in order to help them fight the adverse consequences of the coronavirus crisis on the European economy, it said.
The central bank, CBCG, will provide the legal basis for supporting banks in the restructuring of loans whose repayment is threatened by the coronavirus epidemic, it said on Monday after CBCG governor Radoje Zugic met with representatives of the Association of Montenegrin Banks.
All banks in Montenegro have provided mechanisms for the regular supply of ATMs with cash and have suspended the charging of fees for withdrawing money from ATMs, the central bank said.
Montenegro is the only country in Europe that has not reported a coronavirus case thus far, according to data from the European Centre for Disease Prevention and Control. On March 16, the country closed its borders for foreign nationals to prevent the spread of the disease on its territory.