1] (202) 332-3933
chancery: 2134 Kalorama Road NW, Washington, DC 20008
telephone: [1] (202) 332-0333

Diplomatic representation from the US:
chief of mission: Ambassador Michael C. POLT
embassy: Kneza Milosa 50, 11000 Belgrade
mailing address: 5070 Belgrade Place, Washington, DC 20521-5070
telephone: [381] (11) 361-9344
FAX: [381] (11) 361-8230
consulate(s): Podgorica
note: there is a branch office in Pristina at 30 Nazim Hikmet 38000
Pristina, Kosovo; telephone: [381](38)549-516; FAX: [381](38)549-890

Flag description:
three equal horizontal bands of blue (top), white, and red

Economy Serbia and Montenegro

Economy - overview:
MILOSEVIC-era mismanagement of the economy, an extended period of
economic sanctions, and the damage to Yugoslavia's infrastructure
and industry during the NATO airstrikes in 1999 have left the
economy only half the size it was in 1990. After the ousting of
former Federal Yugoslav President MILOSEVIC in October 2000, the
Democratic Opposition of Serbia (DOS) coalition government
implemented stabilization measures and embarked on an aggressive
market reform program. After renewing its membership in the IMF in
December 2000, Yugoslavia continued to reintegrate into the
international community by rejoining the World Bank (IBRD) and the
European Bank for Reconstruction and Development (EBRD). A World
Bank-European Commission sponsored Donors' Conference held in June
2001 raised $1.3 billion for economic restructuring. An agreement
rescheduling the country's $4.5 billion Paris Club government debts
was concluded in November 2001; it wrote off 66% of the debt. The
smaller republic of Montenegro severed its economy from federal
control and from Serbia during the MILOSEVIC era and continues to
maintain its own central bank, uses the euro instead of the Yugoslav
dinar as official currency, collects customs tariffs, and manages
its own budget. Kosovo, while technically still part of the Federal
Republic of Yugoslavia (now Serbia and Montenegro) according to
United Nations Security Council Resolution 1244, is largely
autonomous under United Nations Interim Administration Mission in
Kosovo (UNMIK) and is greatly dependent on the international
community and the diaspora for financial and technical assistance.
The euro and the Yugoslav dinar are official currencies, and UNMIK
collects taxes and manages the budget. The com