IMF Adopts New Arrangement with Serbia

The Board of Directors of the International Monetary Fund (IMF) has confirmed a new advisory arrangement with Serbia in Washington, which will last for the next 30 months, the Ministry of Finance of Serbia announced. The new Policy Coordination Instrument (PCI) will last from June 2021 to the end of 2023.

Serbian Finance Minister Sinisa Mali said that the arrangement was primarily directed at maintaining the macroeconomic and financial stability.

– In the next 30 months, we will especially focus on additional structural and institutional reforms, so as to ensure a stronger and more intensive growth in the medium term, with a special focus on ecology. Support to the economic recovery is still the most important priority of our economic policy. We will strive to reduce the fiscal costs and risks and define measures for extraordinary situations as per need – he noted.

He added that the cooperation with the IMF was also directed at the reform of public enterprises and the Tax Administration.

– The new arrangement is of special importance when it comes to the reform of public enterprises and the modernization of the Tax Administration, the increase of the revenue collection and the improvement of the business environment. Special attention will be paid to boosting the framework for the management of public investments. When it comes to the restructuring of public enterprises, our primary goal is to upgrade the efficiency and to limit the fiscal costs and risks – Mali said.

Međunarodni monetarni fond-MMF Beograd

Ministarstvo finansija Republike Srbije

IMF

Siniša Mali

Policy Coordination Instrument

arrangement with IMF