The International Monetary Fund (IMF) Executive Board adopted on Thursday in Washington a decision on successfully concluding the second review under the Stand-By Arrangement (SBA) with Serbia, allowing access to about 400 million euros.
In a press release issued after the meeting, the IMF said that macroeconomic outturns under the program remain strong, with recovering growth, ongoing disinflation, a narrowing current account deficit, and record high foreign exchange reserves. It noted that the financial situation of the energy sector state-owned enterprises has been stabilized, and structural reforms in the energy sector companies, state-owned enterprise governance and broader fiscal management are progressing well.
The National Bank of Serbia (NBS) also said that, on 21 December, the Executive Board of the International Monetary Fund (IMF) made a decision on successful completion of the second review of the results of Serbia’s economic program, supported by the stand-by arrangement (SBA).
“The fact that this time again the decision was made without convening a formal Board meeting – which is possible only if a country is pursuing sound economic policies and achieving good macroeconomic results – is yet another proof that Serbia is on the path of solid growth,” the NBS quoted Governor Jorgovanka Tabakovic as saying.
Source: N1
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