Govt. officials meet with IMF in Belgrade

Official negotiations between representatives of Serbia and a delegation of the International Monetary Fund (IMF) began today in Belgrade.

Izvor: B92

Monday, 23.08.2010.

09:56

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Official negotiations between representatives of Serbia and a delegation of the International Monetary Fund (IMF) began today in Belgrade. The first meeting was a plenary at the National Bank of Serbia (NBS). Govt. officials meet with IMF in Belgrade Aside from NBS Governor Dejan Soskic, Deputy Prime Ministers Mladjan Dinkic, Jovan Krkobabic and Bozidar Djelic also participated, along with Finance Minister Diana Dragutinovic and President of the Council of the Governor Bosko Zivkovic. The IMF mission led by Albert Jaeger will stay in Belgrade until August 31 as a part of the fifth quarterly monitoring of the implementation of the current stand-by arrangement, worth EUR 2.9bn. Once the talks with the IMF have finished and the figures have been revised, the government will have to review and adjust the state budget. Thia will have to be adopted by parliament, along with laws agreed on with the IMF, such as the Fiscal Responsibility Law, and the Law on the Pension System Reform. Opposition parties continue to criticize the government's attempts to solve the crisis, and according to member of the economic team of the Serb Progressive Party (SNS) Nikola Tasic, "the biggest concern is the fact that the state neither has a strategy for the negotiations with the IMF nor for the economy in general". “A big concern is that the Serbian government, as always, is focusing on financial flows and not on realistic flows. The biggest problem of the Serbian economy currently, but also during the entire time of the crisis, is insolvency,“ he told B92. Meantime, the Serbian dinar (RSD) has lost 0.23 percent of its value against the euro since Friday, so the official middle exchange rate today stands at RSD 104.82 for one euro. The central bank did not intervene at the foreign exchange market on Friday, while it has sold a total of EUR 1.755bn and bought EUR 10mn since the beginning of the year, in order to ease excessive daily oscillations of the exchange rate and encourage trade in the foreign exchange market. The meeting in Belgrade today (Beta)

Govt. officials meet with IMF in Belgrade

Aside from NBS Governor Dejan Šoškić, Deputy Prime Ministers Mlađan Dinkić, Jovan Krkobabić and Božidar Đelić also participated, along with Finance Minister Diana Dragutinović and President of the Council of the Governor Boško Živković.

The IMF mission led by Albert Jaeger will stay in Belgrade until August 31 as a part of the fifth quarterly monitoring of the implementation of the current stand-by arrangement, worth EUR 2.9bn.

Once the talks with the IMF have finished and the figures have been revised, the government will have to review and adjust the state budget.

Thia will have to be adopted by parliament, along with laws agreed on with the IMF, such as the Fiscal Responsibility Law, and the Law on the Pension System Reform.

Opposition parties continue to criticize the government's attempts to solve the crisis, and according to member of the economic team of the Serb Progressive Party (SNS) Nikola Tasić, "the biggest concern is the fact that the state neither has a strategy for the negotiations with the IMF nor for the economy in general".

“A big concern is that the Serbian government, as always, is focusing on financial flows and not on realistic flows. The biggest problem of the Serbian economy currently, but also during the entire time of the crisis, is insolvency,“ he told B92.

Meantime, the Serbian dinar (RSD) has lost 0.23 percent of its value against the euro since Friday, so the official middle exchange rate today stands at RSD 104.82 for one euro.

The central bank did not intervene at the foreign exchange market on Friday, while it has sold a total of EUR 1.755bn and bought EUR 10mn since the beginning of the year, in order to ease excessive daily oscillations of the exchange rate and encourage trade in the foreign exchange market.

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