THE CENTRAL BANK OF MONTENEGRO issues

 

 

 

INVITATION TO BIDS No. 011/2005

for the Preparation of Macroeconomic Model Improvement Project

for the Needs of the Central Bank of Montenegro

 

 

 

Project Objective

 

To improve the aggregate macroeconomic econometric model that will serve as a basis for dynamic macroeconomic analysis of application and changes of economic policy instruments and measures in real and monetary spheres.

 

 

Project Scope

 

• improvement of the first version of the model by: more recent information, better specifications of the equations already included in the model, introduction of new equations in the model, etc;
• producing of sectoral equations and models of functioning of individual sectors in the Montenegrin economy;
• producing of new data and improvement of existing data, with the focus on producing of optimum series for estimation of cash in circulation;
• CBM staff training in the use of macroeconomic model;
• development of leading indicator models;
• development of FEN model for inflation forecasting;
• assistance to CBM in the development of stress testing;
• quarterly testing of macroeconomic model.

 

 

Copyrights

 

All copyrights will belong to the Central Bank of Montenegro. The results of the research cannot be published in publications other than those of the Central Bank of Montenegro.

 

 

Project Completion Period

 

The final time limit for the completion of the project is ten (10) months after signing the contract.

 

 

Participation Criteria

 

Bids may be submitted by legal entities registered for the conduct of business activities that are the subject of the Invitation.

 

 

Bid Evaluation Criteria

 

• bid quality with respect to implementation of the project scope (30%)
• bidder’s references (40%)
• bid cost (20%)
• qualifications of team members involved in project preparation (10%)

 

 

Bid Contents

 

• manner of implementation of the Terms of Reference;
• references of the institution and team members in the area of macroeconomic modeling;
• evidence of eligibility provided for in Article 4 of the Law on Public Procurement in the Republic of Montenegro;
• bid cost and planned delivery period;
• special information that may be relevant for the bid evaluation.

 

 

Special Requirement

 

Bids that provide for a team with at least two experts with highest academic titles acquired in macroeconomic modeling and monetary policy will be taken into consideration.

 

 

Bid Submission and Opening

 

Bids may be submitted until November 11, 2005 at 12:00 hours (noon), in person or by registered mail, in sealed envelopes, with the indication – “Invitation to Bid No. 011/2005 – Do Not Open Before Formal Meeting of Bid Opening Commission”, to the following address:

 

Central Bank of Montenegro, Bulevar Svetog Petra Cetinjskog 6, 81000 Podgorica, Montenegro

 

The bid opening will be public and will take place on November 11, 2004 at 14:00 hours, in the Conference Room at the first floor, at the Central Bank of Montenegro, Bulevar Svetog Petra Cetinjskog 6, Podgorica, Montenegro.

 

Public bid opening may be attended by bidders’ authorized representatives.

 

The contract will be awarded to the most favorable bidder.

 

Untimely and incomplete bids will not be considered.

 

 

Contact person:

Marijana Mitrovic, tel. 081/403-281         cb-cg.org