Montenegro: PPG, official creditors (NFL, current US$)

Key figures

What the numbers say

In 2024, Montenegro's PPG, official creditors (NFL, current US$) rose US$200.04 million on 2023 (from −US$101.32 million to US$98.72 million).

Across the 17 yearly changes before that (2007 to 2023), the average change was −US$9.46 million and a typical year strayed about US$104.49 million from that (the standard deviation). This year's change was 2.0 standard deviations above that average, so it was unusually large compared with the rest of the record.

On record, the biggest yearly rise was US$217.72 million in 2011 and the biggest yearly fall was US$155.23 million in 2016. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 there is no clear straight-line trend: a straight line explains 22% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Montenegro had the 62nd highest value of the 118 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Montenegro in the 2024 ranking

• Liberia — 59th of 118: US$126.31 million
• St. Vincent and the Grenadines — 60th of 118: US$121.04 million
• St. Lucia — 61st of 118: US$104.7 million
• Georgia — 63rd of 118: US$97.66 million
• Kyrgyz Republic — 64th of 118: US$97.39 million
• Solomon Islands — 65th of 118: US$93.3 million

What this measures

Public and publicly guaranteed debt from official creditors includes loans from international organizations (multilateral loans) and loans from governments (bilateral loans). Loans from international organization include loans and credits from the World Bank, regional development banks, and other multilateral and intergovernmental agencies. Excluded are loans from funds administered by an international organization on behalf of a single donor government; these are classified as loans from governments. Government loans include loans from governments and their agencies (including central banks), loans from autonomous bodies, and direct loans from official export credit agencies. Net flows (or net lending or net disbursements) received by the borrower during the year are disbursements minus principal repayments. Data are in current U.S. dollars.

Regional and income-group figures are computed by the World Bank as a sum.

All 19 values

PPG, official creditors (NFL, current US$) in nearby economies

• Albania — −US$11.69 million (2024)
• Armenia — US$208.86 million (2024)
• Azerbaijan — −US$537.21 million (2024)
• Belarus — −US$1.16 billion (2024)
• Bosnia and Herzegovina — US$148.92 million (2024)
• Bulgaria — US$217.82 million (2022)
• Georgia — US$97.66 million (2024)
• Kazakhstan — US$632.03 million (2024)
• Kosovo — US$79.03 million (2024)
• Kyrgyz Republic — US$97.39 million (2024)

More economic policy & debt data for Montenegro

• Adjusted savings, mineral depletion (current US$) — US$651,532 (2021)
• Medium and high-tech manufacturing value added (% manufacturing value added) — 14.86% (2024)
• Adjusted savings, carbon dioxide damage (current US$) — US$105.26 million (2021)
• GDP (current US$) — US$9.23 billion (2025)
• GDP (current LCU) — 8.17 billion (2025)
• GDP, linked series (current LCU) — 8.17 billion (2025)
• GDP (constant 2015 US$) — US$5.47 billion (2025)
• GDP (constant LCU) — 4.66 billion (2025)
• GDP, PPP (current international $) — 22.07 billion (2025)
• GDP, PPP (constant 2021 international $)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
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• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Montenegro's PPG, official creditors (NFL, current US$)?

US$98.72 million in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2006?

It is up 65.86% from US$59.52 million in 2006 (2.85% a year on average, compounded). The highest value was US$220.1 million in 2011 and the lowest −US$101.32 million in 2023.

How does Montenegro rank?

62nd highest of 118 economies with data for 2024.

Is the latest change in PPG, official creditors (NFL, current US$) unusual for Montenegro?

In 2024, Montenegro's PPG, official creditors (NFL, current US$) rose US$200.04 million on 2023 (from −US$101.32 million to US$98.72 million). Across the 17 yearly changes before that (2007 to 2023), the average change was −US$9.46 million and a typical year strayed about US$104.49 million from that (the standard deviation). This year's change was 2.0 standard deviations above that average, so it was unusually large compared with the rest of the record.

Source

World Bank, World Development Indicators, indicator DT.NFL.OFFT.CD, licensed CC BY 4.0. Original source: International Debt Statistics, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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