Serbian officials begin negotiations with IMF

Expert negotiations regarding the first review of Serbia's precautionary arrangement with the International Monetary Fund (IMF) started Friday.

Izvor: Tanjug

Friday, 04.11.2011.

10:57

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Expert negotiations regarding the first review of Serbia's precautionary arrangement with the International Monetary Fund (IMF) started Friday. The talks will last by the end of the week, the local IMF office told Tanjug. Serbian officials begin negotiations with IMF The IMF mission will be led by Deputy Director of the European Department Juha Kahkonen. The IMF delegation will analyze the current economic situation and chances of Serbia's economic growth in this and next year. The participants will also discuss the implementation of some previously agreed steps of the monetary and fiscal policies and the progress in structural reforms. The key requirement for the first review of this precautionary arrangement worth EUR 1bn is that Serbia has not breached the agreed limit on budget expenditures and has followed the fiscal rules for 2012. The next year's budget deficit should go down from this year's 4.5 to 4.1 percent of the GDP, according to the current fiscal rules. The mission's report from its previous visit to Belgrade states that the new arrangement with Serbia has three main goals. The first one is to protect Serbia from a potential new global economic crisis, the second is to support the fiscal policy and the third to improve the investment climate in the country. (Beta)

Serbian officials begin negotiations with IMF

The IMF mission will be led by Deputy Director of the European Department Juha Kahkonen.

The IMF delegation will analyze the current economic situation and chances of Serbia's economic growth in this and next year. The participants will also discuss the implementation of some previously agreed steps of the monetary and fiscal policies and the progress in structural reforms.

The key requirement for the first review of this precautionary arrangement worth EUR 1bn is that Serbia has not breached the agreed limit on budget expenditures and has followed the fiscal rules for 2012.

The next year's budget deficit should go down from this year's 4.5 to 4.1 percent of the GDP, according to the current fiscal rules.

The mission's report from its previous visit to Belgrade states that the new arrangement with Serbia has three main goals.

The first one is to protect Serbia from a potential new global economic crisis, the second is to support the fiscal policy and the third to improve the investment climate in the country.

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