IMF mission in Serbia May 12
The International Monetary Fund (IMF) mission will arrive in Belgrade on May 12 to discuss the fourth revision of its stand-by arrangement with Serbia.
Sunday, 09.05.2010.
15:29
The International Monetary Fund (IMF) mission will arrive in Belgrade on May 12 to discuss the fourth revision of its stand-by arrangement with Serbia. The mission is expected to be in Serbia until May 26, and Albert Jaeger will once again lead the mission. IMF mission in Serbia May 12 According to earlier announcements, the talks will focus on tax and pension reforms and adopting the law for fiscal responsibility. Serbian Finance Minister Diana Dragutinovic announced earlier that Serbia is entering the new phase of talks very relaxed, because it has fulfilled its tasks according to its IMF arrangement. She said that it was agreed with the IMF that pensions have to be harmonized three times by April 2012 according to wages in the public sector, and that they would then begin to be harmonized with the cost of living. One task Serbia must complete is to draft a law for fiscal responsibility, after which IMF experts would look at the law, which is expected to decrease public spending within the gross domestic product (GDP) by 0.75 percent, with the goal of balancing out Serbia’s budget by 2015. On May 15, 2009, the IMF approved the stand-by arrangement for Serbia worth a total of EUR 2.9bn, which is valid until April 2011. The money is being used to strengthen the foreign currency reserves, support the government’s economic program, and ease the effects of the world economic crisis. Serbia has already withdrawn EUR 1.3bn in three installments from the IMF arrangement.
IMF mission in Serbia May 12
According to earlier announcements, the talks will focus on tax and pension reforms and adopting the law for fiscal responsibility.Serbian Finance Minister Diana Dragutinović announced earlier that Serbia is entering the new phase of talks very relaxed, because it has fulfilled its tasks according to its IMF arrangement.
She said that it was agreed with the IMF that pensions have to be harmonized three times by April 2012 according to wages in the public sector, and that they would then begin to be harmonized with the cost of living.
One task Serbia must complete is to draft a law for fiscal responsibility, after which IMF experts would look at the law, which is expected to decrease public spending within the gross domestic product (GDP) by 0.75 percent, with the goal of balancing out Serbia’s budget by 2015.
On May 15, 2009, the IMF approved the stand-by arrangement for Serbia worth a total of EUR 2.9bn, which is valid until April 2011.
The money is being used to strengthen the foreign currency reserves, support the government’s economic program, and ease the effects of the world economic crisis.
Serbia has already withdrawn EUR 1.3bn in three installments from the IMF arrangement.
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