IMF on Serbia arrangement in January

NBS Governor Radovan Jelašić says that IMF's Board of Directors will next month decide on a new arrangement with Serbia.

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Saturday, 13.12.2008.

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NBS Governor Radovan Jelasic says that IMF's Board of Directors will next month decide on a new arrangement with Serbia. Jelasic told Beta in an interview on Saturday that a session scheduled was to consider this issue was postponed due to technical problems. IMF on Serbia arrangement in January "One of the preconditions is to adopt two memorandums. One is about targeting the inflation, while the other concerns the financial sector stability. Both must be adopted before the IMF board considers its program for Serbia," the central bank chief said. "Most likely there will be a technical delay until mid-January, which means we have an added period of time to work out all the details." Jelasic also announced that the NBS and government inflation memorandum will state the degree to which the government will take responsibility for the prices controlled by the state. "Our preliminary projections show that, in order to have inflation of eight percent – plus, minus two – the prices should not rise above 13 percent next year. This is important for the businesses, that they should know no one will surprise them with a rise above that," the governor continued. "All this data has already been in an indirect way included in the budget, but this memorandum must explicitly state once again to what degree the government will approve the rise of prices under its control," said Jelasic.

IMF on Serbia arrangement in January

"One of the preconditions is to adopt two memorandums. One is about targeting the inflation, while the other concerns the financial sector stability. Both must be adopted before the IMF board considers its program for Serbia," the central bank chief said.

"Most likely there will be a technical delay until mid-January, which means we have an added period of time to work out all the details."

Jelašić also announced that the NBS and government inflation memorandum will state the degree to which the government will take responsibility for the prices controlled by the state.

"Our preliminary projections show that, in order to have inflation of eight percent – plus, minus two – the prices should not rise above 13 percent next year. This is important for the businesses, that they should know no one will surprise them with a rise above that," the governor continued.

"All this data has already been in an indirect way included in the budget, but this memorandum must explicitly state once again to what degree the government will approve the rise of prices under its control," said Jelašić.

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