Official talks with IMF begin in Belgrade

Official talks between the Serbian government and the International Monetary Fund (IMF) on the first review of a precautionary arrangement started Wednesday. A plenary meeting will be held at the National Bank of Serbia (NBS). Official talks with IMF begin in Belgrade The talks between the Serbian authorities and the IMF within the first quarterly review of results in the implementation of the current stand-by arrangement began in Belgrade on November 3, and will last until November 15, the NBS announced. During the visit, the IMF delegation, headed by IMF Resident Representative for Central and Eastern Europe Mark Allen, 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. Special attention will be dedicated to formulating the 2012 budget framework, adjusted to fiscal rules, as well as economic policy measures for external risk mitigation and possible impacts of the global debt crisis on Serbia. The arrangement approved to Serbia on September 29 in the amount of EUR 935.4mn of special drawing rights (about EUR 1.1bn) was concluded out of precaution, that is without the intention of using the funds, except in the case of the country's balance of payments needs. In accordance with the concluded arrangement, the results of the agreed economic program will be monitored quarterly within six reviews, aimed at assessing the progress achieved in the implementation of the arrangement and reaching of agreement on additional measures that may be necessary for carrying out the determined program, the NBS released.

Official talks with IMF begin in Belgrade

The talks between the Serbian authorities and the IMF within the first quarterly review of results in the implementation of the current stand-by arrangement began in Belgrade on November 3, and will last until November 15, the NBS announced.

During the visit, the IMF delegation, headed by IMF Resident Representative for Central and Eastern Europe Mark Allen, 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.

Special attention will be dedicated to formulating the 2012 budget framework, adjusted to fiscal rules, as well as economic policy measures for external risk mitigation and possible impacts of the global debt crisis on Serbia.

The arrangement approved to Serbia on September 29 in the amount of EUR 935.4mn of special drawing rights (about EUR 1.1bn) was concluded out of precaution, that is without the intention of using the funds, except in the case of the country's balance of payments needs.

In accordance with the concluded arrangement, the results of the agreed economic program will be monitored quarterly within six reviews, aimed at assessing the progress achieved in the implementation of the arrangement and reaching of agreement on additional measures that may be necessary for carrying out the determined program, the NBS released.