Serbia to ask IMF for EUR 2bn loan
Prime Minister Mirko Cvetković has revealed that Serbia expects to get EUR 2bn from the International Monetary Fund (IMF).
Sunday, 22.02.2009.
11:36
Prime Minister Mirko Cvetkovic has revealed that Serbia expects to get EUR 2bn from the International Monetary Fund (IMF). He told Reuters that the loan, meant to strengthen the hard currency reserves, is expected to be concluded by April, and that the country will seek a further EUR 400mn from the EU. Serbia to ask IMF for EUR 2bn loan The IMF already approved about one quarter of that sum earlier this year, but under the condition that the budget deficit comes down to 1.75 percent of the GDP in 2009. The latest announcement from the cabinet comes as growth is seen falling far short of earlier official estimates. Cvetkovic said it will most probably grow between 0.5 and 1 percent after the fall in fiscal revenues since the beginning of the year. But last week the National Bank of Serbia (NBS) said the economy was most probably heading into recession, Reuters reminded. Serbia's economy grew 5.5 percent in 2008.
Serbia to ask IMF for EUR 2bn loan
The IMF already approved about one quarter of that sum earlier this year, but under the condition that the budget deficit comes down to 1.75 percent of the GDP in 2009.The latest announcement from the cabinet comes as growth is seen falling far short of earlier official estimates.
Cvetković said it will most probably grow between 0.5 and 1 percent after the fall in fiscal revenues since the beginning of the year.
But last week the National Bank of Serbia (NBS) said the economy was most probably heading into recession, Reuters reminded.
Serbia's economy grew 5.5 percent in 2008.
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