Official on future IMF arrangements

The existing arrangement with the IMF, which ends in 2011, has enabled Serbia to protect itself from many effects of the global crisis.

Izvor: Tanjug

Monday, 11.10.2010.

11:38

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The existing arrangement with the IMF, which ends in 2011, has enabled Serbia to protect itself from many effects of the global crisis. This is according to Finance Ministry State Secretary Slobodan Ilic, who told Tanjug news agency that it was in that context that Serbia should think about the future cooperation with the international financial institution. Official on future IMF arrangements "It is good that Serbia had an arrangement with the IMF, as the very program with the IMF enabled the country to protect itself from many negative effects of the global economic crisis," Ilic said, adding that the question often asked in Serbia is whether the arrangement with the IMF is useful. "I believe that it was very smart from Serbia to conclude such an agreement which helped the country endure everything that was going on in the world. In that context, I believe that we should think about the future cooperation with the IMF," said Ilic, who is a member of Serbia's delegation at the joint IMF-World Bank Annual Meeting in Washington. He assessed that the continuance of cooperation with the IMF, on which the final decision will be made by the Serbian government, would have a positive effect on foreign investments, which are strongly emphasized in the new model of economic growth. Ilic pointed out that, during their next visit to Serbia at the end of October, the IMF representatives will examine whether the budget revision is moving within the agreed limits of RSD 6bn, that are to be distributed. At the end of October, the IMF will carry out the sixth revision of the arrangement with Serbia, in the amount of about EUR 3bn. The final, seventh revision will be in February 2011. A file photo of an IMF delegation meeting with Serbian officials (Beta)

Official on future IMF arrangements

"It is good that Serbia had an arrangement with the IMF, as the very program with the IMF enabled the country to protect itself from many negative effects of the global economic crisis," Ilić said, adding that the question often asked in Serbia is whether the arrangement with the IMF is useful.

"I believe that it was very smart from Serbia to conclude such an agreement which helped the country endure everything that was going on in the world. In that context, I believe that we should think about the future cooperation with the IMF," said Ilić, who is a member of Serbia's delegation at the joint IMF-World Bank Annual Meeting in Washington.

He assessed that the continuance of cooperation with the IMF, on which the final decision will be made by the Serbian government, would have a positive effect on foreign investments, which are strongly emphasized in the new model of economic growth.

Ilić pointed out that, during their next visit to Serbia at the end of October, the IMF representatives will examine whether the budget revision is moving within the agreed limits of RSD 6bn, that are to be distributed.

At the end of October, the IMF will carry out the sixth revision of the arrangement with Serbia, in the amount of about EUR 3bn. The final, seventh revision will be in February 2011.

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