An International Monetary Fund (IMF) mission will visit Serbia during June 11-13 to continue the talks on concluding a non-financial arrangement with the country, the finance ministry said.
The objective of the new arrangement is to keep the macroeconomic and fiscal stability and to support the structural reforms which will accelerate Serbia’s economic growth and make it more sustainable in the medium and long term, the IMF resident representative in Serbia, Sebastian Sosa, said in a statement on Tuesday.
“We have reached agreement on key policy elements of the new programme, and intend to return shortly to finalise the discussions once the new Finance Minister has taken office,” the head of IMF mission to Serbia, James Roaf said in the concluding statement of the mission visit to Serbia during May 7-18.
Serbia’s parliament endorsed the nomination of Sinisa Mali as new finance minister on May 29. Mali replaced Dusan Vujovic who resigned in May.
In February, Serbia concluded a $1.32 billion (1.12 billion euro) three-year stand-by agreement (SBA)with the IMF. After three years of effort under the programme, Serbia’s economy has turned around, as fiscal accounts recorded a surplus in 2017, economic confidence improved with stronger investment both from foreign and domestic sources, while unemployment is near historic lows, and falling, banks are solid, and non-performing loans are now below their pre-crisis levels, the IMF said back then.