WB official: Serbia to get loan with preconditions

World Bank (WB) Regional Coordinator for South East Europe Jane Armitage noted Wednesday that the WB was ready to approve Serbia a EUR 400mn loan.

Izvor: Tanjug

Wednesday, 01.08.2012.

10:58

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BELGRADE World Bank (WB) Regional Coordinator for South East Europe Jane Armitage noted Wednesday that the WB was ready to approve Serbia a EUR 400mn loan. She added, however, that there would be certain preconditions relating to gradual reduction of deficit. WB official: Serbia to get loan with preconditions Armitage told Radio and Television of Serbia (RTS) that it was very important for Serbia to reach an agreement with the International Monetary Fund (IMF) but that it also needed to implement certain reforms in terms of public expenses and pension funds, and continue reforms in the state and entrepreneurial sector. She said that Serbia, as all other western Balkan countries, was in a very difficult situation, and that it is under a strong, negative influence of the situation in the eurozone. “Most of Europe is in recession, and that has a negative impact on all surrounding countries, including Serbia. It is obvious that Serbia will have to adjust to the situation,” she explained. Armitage added that Serbia will manage to adapt to the situation but that it would have to continue to take loans from the international markets. The WB official underlined that she was assured by government officials that Serbia would remain committed to the reforms. Armitage noted that she is certain that Finance and Economy Minister Mladjan Dinkic had a clear plan for addressing the difficult situation in Serbia. When asked to comment on the announcements of dismissal of National Bank of Serbia (NBS) Governor Dejan Soskic, Armitage said that at the meetings with government officials she noted that the principle of the independence of the national bank was very important. Tanjug

WB official: Serbia to get loan with preconditions

Armitage told Radio and Television of Serbia (RTS) that it was very important for Serbia to reach an agreement with the International Monetary Fund (IMF) but that it also needed to implement certain reforms in terms of public expenses and pension funds, and continue reforms in the state and entrepreneurial sector.

She said that Serbia, as all other western Balkan countries, was in a very difficult situation, and that it is under a strong, negative influence of the situation in the eurozone.

“Most of Europe is in recession, and that has a negative impact on all surrounding countries, including Serbia. It is obvious that Serbia will have to adjust to the situation,” she explained.

Armitage added that Serbia will manage to adapt to the situation but that it would have to continue to take loans from the international markets.

The WB official underlined that she was assured by government officials that Serbia would remain committed to the reforms.

Armitage noted that she is certain that Finance and Economy Minister Mlađan Dinkić had a clear plan for addressing the difficult situation in Serbia.

When asked to comment on the announcements of dismissal of National Bank of Serbia (NBS) Governor Dejan Šoškić, Armitage said that at the meetings with government officials she noted that the principle of the independence of the national bank was very important.

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