Official Talks of International Monetary Fund with Serbian Delegation Begin

The official talks between representatives of the Republic of Serbia with the mission of the International Monetary Fund (IMF) to the end of the first consideration of the execution of the economic program, which the IMF supported with the new non-financial Policy Coordination Instrument (PCI) began today with a plenary meeting. The talks are being done in a video format, the National Bank of Serbia (NBS) says in a press release.

The IMF mission will last until October 22, during which the current fiscal, monetary and overall macroeconomic trends will be considered, as well as the realization of the set goals of the economic program.

This new cooperation program, which is supported by the PCI, was approved in June 2021 for a period of 30 months and is a continuation of the partnership that Serbia has with the IMF.

Like the previous program, which was successfully completed in January 2021, it has an advisory character and does not entail the use of financial funds. The objective of the advisory program is to support a quicker economic recovery of the Republic of Serbia from the effects of the pandemic, the preservation of the macroeconomic and financial stability and the execution of the ambitious plan of structural reforms for the purpose of inciting a high, inclusive and sustainable growth in the medium term, the NBS says.

The reforms contained in the program reflect the policy and the agenda of the carriers of the economic policy in Serbia and include: the strengthening of the frameworks of the fiscal policy, the strengthening of the management of public companies, the development of the capital market, the further boosting of the process of dinarization, the upgrade of social welfare provision and the switch to a green economy.

Narodna banka Srbije Beograd

Međunarodni monetarni fond-MMF Beograd

National Bank of Serbia

NBS

International Monetary Fund

IMF

talks

Policy Coordination Instrument

PCI

advisory agreement