IMF: Serbia fulfilled all conditions

IMF Board of Directors has established that Serbia has fulfilled all the conditions agreed on in the latest revision of the two-year stand-by arrangement.

Izvor: B92

Saturday, 09.04.2011.

10:50

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IMF Board of Directors has established that Serbia has fulfilled all the conditions agreed on in the latest revision of the two-year stand-by arrangement. International Monetary Fund (IMF) Resident Representative in Serbia Bogdan Lissovolik told this to B92. IMF: Serbia fulfilled all conditions He said that that the IMF Board of Directors’ decision would allow Serbia to withdraw another EUR 365mn intended for foreign exchange reserves. Lissovolik told B92 that the IMF would continue monitoring developments in Serbia, regardless of the fact that the credit arrangement was about to expire. Commenting on certain statements that Serbia would benefit from a new credit arrangement, he said that the IMF headquarters in Washington had not received such a request. Regardless of the fact that the current arrangement is drawing to a close, Lissovolik said that he still believed that a salary raise in the public sector could create problems for the Serbian government in the months to come. The EUR 2.87bn arrangement between Serbia and the IMF is due to expire late in April. Of the total sum of the arrangement, Serbia has withdrawn some EUR 1.54bn for strengthening its foreign exchange reserves. Bogdan Lissovolik (Tanjug, file)

IMF: Serbia fulfilled all conditions

He said that that the IMF Board of Directors’ decision would allow Serbia to withdraw another EUR 365mn intended for foreign exchange reserves.

Lissovolik told B92 that the IMF would continue monitoring developments in Serbia, regardless of the fact that the credit arrangement was about to expire.

Commenting on certain statements that Serbia would benefit from a new credit arrangement, he said that the IMF headquarters in Washington had not received such a request.

Regardless of the fact that the current arrangement is drawing to a close, Lissovolik said that he still believed that a salary raise in the public sector could create problems for the Serbian government in the months to come.

The EUR 2.87bn arrangement between Serbia and the IMF is due to expire late in April. Of the total sum of the arrangement, Serbia has withdrawn some EUR 1.54bn for strengthening its foreign exchange reserves.

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