Montenegro: Short-term debt (% of total reserves)

Key figures

What the numbers say

In 2024, Montenegro's short-term debt (% of total reserves) rose 2.66 percentage points on 2023 (from 10.85% to 13.51%).

Across the 16 yearly changes before that (2008 to 2023), the average change was −3 percentage points and a typical year strayed about 59.48 percentage points from that (the standard deviation). This year's change was 0.1 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 82.42 percentage points in 2011 and the biggest yearly fall was 177.34 percentage points in 2010. 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 the straight-line trend is downward, about 2 percentage points a year. A straight line explains 65% of the movement over 10 observed years.

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 70th highest value of the 96 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

• Uganda — 66th of 96: 14.9%
• Uzbekistan — 67th of 96: 13.82%
• São Tomé and Principe — 68th of 96: 13.52%
• Samoa — 70th of 96: 13.5%
• Peru — 71st of 96: 13.22%
• Eswatini — 72nd of 96: 13.02%

What this measures

Short-term debt includes all debt having an original maturity of one year or less and interest in arrears on long-term debt. Total reserves includes gold.

Limitations: The DRS encourages debtor countries to voluntarily provide information on their short-term external obligations. By its nature, short-term external debt is difficult to monitor: loan-by-loan registration is normally impractical, and monitoring systems typically rely on information requested periodically by the central bank from the banking sector. The World Bank regards the debtor country as the authoritative source of information on its short-term debt. Where such information is not available from the debtor country, data are derived from BIS data on international bank lending based on time remaining to original maturity.

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

All 18 values

Short-term debt (% of total reserves) in nearby economies

• Albania — 19.04% (2024)
• Armenia — 94.94% (2024)
• Azerbaijan — 1.72% (2024)
• Belarus — 111.41% (2024)
• Bosnia and Herzegovina — 32.63% (2024)
• Bulgaria — 24.37% (2022)
• Georgia — 106.38% (2024)
• Kazakhstan — 42.78% (2024)
• Kosovo — 119.37% (2024)
• Kyrgyz Republic — 31.4% (2024)
• Moldova

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 short-term debt (% of total reserves)?

13.51% in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2007?

It is down 45.29 percentage points from 58.79% in 2007. The highest value was 210.79% in 2009 and the lowest 10.37% in 2022.

How does Montenegro rank?

70th highest of 96 economies with data for 2024.

Is the latest change in short-term debt (% of total reserves) unusual for Montenegro?

In 2024, Montenegro's short-term debt (% of total reserves) rose 2.66 percentage points on 2023 (from 10.85% to 13.51%). Across the 16 yearly changes before that (2008 to 2023), the average change was −3 percentage points and a typical year strayed about 59.48 percentage points from that (the standard deviation). This year's change was 0.1 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator DT.DOD.DSTC.IR.ZS, licensed CC BY 4.0. Original source: World Development Indicators, World Bank (WB); International Monetary Fund (IMF), type: Balance of Payments Statistics Yearbook and data files; World Bank (WB), type: GDP estimates; Organisation for Economic Co-operation and Development (OECD), type: GDP estimates 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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