General Assembly under the name of "Yugoslavia" on the theory that the Socialist Federal Republic of Yugoslavia had dissolved. The Federal Republic of Yugoslavia (later renamed Serbia and Montenegro) was admitted as a new member to the United Nations on 1 November 2000; in May 2006, Montenegro declared independence and Serbia continued to hold the federation's seat. Additionally, Kosovo declared independence in February 2008. The Agreement on Succession Issues The first negotiations on succession issues of the former Socialist Yugoslavia had begun in 1992 within the framework of the Working Group on Succession Issues of the Peace Conference on Yugoslavia. The agreement was initially prevented by the insistence of the Federal Republic of Yugoslavia that it is exclusive legal and political continuator of the Socialist Yugoslavia as well as the owner of all state property owned by the earlier socialist federal government, and was willing to renounce a part of it only as an act of goodwill. Federal Republic of Yugoslavia interpreted breakup of Yugoslavia as a process of serial secessions and not as a complete dismemberment of the earlier state, interpretation rejected by other former Yugoslav republics. Badinter Arbitration Committee recommended a division of assets and liabilities based on principle of equity and even referred to the 1983 Vienna Convention on Succession of States in Respect of State Property, Archives and Debt (convention not in force which at the time was signed by only six states, including SRF Yugoslavia). This proposal was unacceptable to the Federal Republic of Yugoslavia which therefore motivated the International Monetary Fund to develop alternative key model which included economic power of republics and their contribution to the federal budget which was accepted by all. The key determined participation of Federal Republic of Yugoslavia with 36.52%, Croatia with 28.49%, Slovenia 16.39%, Bosnia and Herzegovina with 13.20% and Macedonia with 5.20%. Agreement was also reached on gold and other reserves at the Bank for International Settlements but the final conclusion was postponed by the beginning of the Kosovo War. After the end of the NATO bombing of Yugoslavia followed next year by the overthrow of Slobodan Milošević successor states concluded their agreement. In 2001, with the support of the international community, five countries (Slovenia, Croatia, Bosnia and Herzegovina, The Former Yugoslav Republic of Macedonia – today North Macedonia — and the Federal Republic of Yugoslavia – today Serbia and Montenegro) signed the Agreement on Succession Issues