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SAVO PRELEVIC/AFP via Getty Images 7 Jul 2021 Montenegro is negotiating with “a number of Western banks from Europe and the United States” to refinance almost a billion dollars in loans taken out from Chinese banks to finance a lavish road construction project, the country’s economy minister, Jakov Milatovic, said Wednesday.  Milatovic did not name any of the banks in question, but said he is “very optimistic” a deal will be reached within “weeks” to refinance Montenegro’s two-percent Chinese debt at one percent or less. “There are two options: the first is to refinance, the second is to swap the loan, or the third option is to do part of the first one and part of the second one. We believe we can get much better terms,” he insisted.

United statesMontenegro generalBruxelles capitaleZdravko krivokapicMilo djukanovicMilojko spajicJakov milatovicInternational monetary fundTara valley durmitor national parkUniversity of montenegroChina initiativeEuropean unionEuropean investment bankRoad initiativeMinister milojko spajicPrime minister milo