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IMF mission to arrive in Belgrade


Thursday 18.08.2011.

BELGRADE — The International Monetary Fund mission will arrive in Belgrade on Thursday to discuss a new precautionary arrangement with Serbia, Tanjug has learned.

As in the talks on the previous stand-by arrangement, the mission will be headed by Albert Jaeger.

By the end of this week, the IMF mission will have preliminary talks with the Serbian authorities, and the official talks will begin on Monday, August 22, with a plenary meeting in the National Bank of Serbia (NBS).

At the last week’s meeting in the Serbian government dedicated to the current financial market turmoil, the officials qualified as vital a new pre-cautionary arrangement which Serbia should sign with the IMF soon.

This agreement would be a guarantor of the country’s macroeconomic stability, and indicator that the government is pursuing a credible economic policy, which would send a positive signal to all prospective investors, the Serbian government released following the meeting convened by Prime Minister Mirko Cvetković.

IMF Resident Representative in Belgrade Bogdan Lissovolik told Tanjug that the talks would also deal with possible impacts that the current economic turmoil in the world markets might have on Serbia, given that each round of talks opens with an estimate of prevailing economic trends.

“If the agreement is reached during the mission’s stay, the precautionary arrangement with Serbia could be approved in late September,” Lissovolik stressed, adding that once the agreement was reached, it took around four to five weeks for the IMF Executive Board to officially approve the arrangement.

He underlined that the talks would also focus on the country’s budgetary policy for 2011-2012, and that the common goal is to make sure that the budget deficit is in line with the fiscal rules stipulated by the Law on Budget System.

Source: Tanjug

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