| PM praises his cabinet, agreement with IMF |
| 6 November 2009 | 10:41
| Source:
Tanjug |
BELGRADE --
PM Mirko Cvetković says the agreement with the IMF "is the best confirmation" that the government is pursuing a good and sustainable policy.
"There is no better response to the critics and a better confirmation that this government is pursuing a good and sustainable policy, either in short terms or in the medium and long terms, than the successfully completed talks with the International Monetary Fund," Cvetković said in an interview published by Politika on Friday.
The prime minister underscored that the agreement is "not only an ordinary certificate, but also evidence that the IMF is confident that Serbia deserves to be approved further use of the loan of nearly EUR 3bn, that we are a credible partner and that we will be able to pay that money back".
A decision on when and how much money we be drawn, would be left to the National Bank of Serbia, Cvetković said, noting that the funds are not earmarked for the budget but for the foreign currency reserves, "which are rather solid even without the funds, amounting to EUR 9.7bn".
The most important stumbling stone, according to Cvetković, was defining a sustainable medium and long-term economic and fiscal policy, which means that the state will not be taking loans that will bring it to the edge of collapse.
A sustainable policy, he said, implies reducing, in the medium term, the deficit "down to a zero, or to a level that can be financed from our own sources without any loans".
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