"Foreign currency market stabilized"
National Bank of Serbia (NBS) Governor Radovan Jelašić on Monday stated that Serbia's foreign currency market had stabilized.
Monday, 04.05.2009.
16:08
National Bank of Serbia (NBS) Governor Radovan Jelasic on Monday stated that Serbia's foreign currency market had stabilized. This came despite the fact that the central bank had not intervened since mid-February, he said, and added that the market should determine the level at which the domestic currency's rate will be formed. "Foreign currency market stabilized" Jelasic underscored that the NBS had taken general measures aimed at alleviating the effects of the global economic crisis, such as maintaining bank exposure towards Serbia at the December 31, 2008 level, as well as securing additional solvency based on mortgage, reduction of reference interest rate, stimulation of credit activities and other measures. In his lecture at the Belgrade Faculty of Organizational Sciences, Jelasic said that loans do not solve any of the essential problems of the real sector, adding that the production is inefficient in Serbia, that the domestic demand had been reduced and that there is no ability for additional funding. Jelasic underscored that he does not expect foreign banks to withdraw from Serbia.
"Foreign currency market stabilized"
Jelašić underscored that the NBS had taken general measures aimed at alleviating the effects of the global economic crisis, such as maintaining bank exposure towards Serbia at the December 31, 2008 level, as well as securing additional solvency based on mortgage, reduction of reference interest rate, stimulation of credit activities and other measures.In his lecture at the Belgrade Faculty of Organizational Sciences, Jelašić said that loans do not solve any of the essential problems of the real sector, adding that the production is inefficient in Serbia, that the domestic demand had been reduced and that there is no ability for additional funding.
Jelašić underscored that he does not expect foreign banks to withdraw from Serbia.
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