The International Monetary Fund has made a decision on the successful completion of the fourth review of Serbia’s economic program
On August 26, the Board of Executive Directors of the International Monetary Fund (IMF Board) made a decision on the successful completion of the fourth, penultimate review of the results of the economic program of the Republic of Serbia, supported by the Policy Coordination Instrument (PCI).
On that occasion, the IMF Board assessed that Serbia continues with the successful implementation of the economic program. In the fight against the coronavirus pandemic, the authorities in Serbia adopted strict protection measures at an early stage and adopted a large package of measures. The IMF Board assessed such a response of the economic policy makers in Serbia as extremely positive, stating that it is strong, timely and comprehensive.
The IMF board pointed out that the authorities in Serbia responded to the pandemic immediately, with a large package of fiscal and monetary measures, as well as measures aimed at the banking sector. They believe that the measures are well designed, and in the right way aimed at protecting and supporting households, supporting job preservation, greater investments in health care, providing sufficient liquidity in the banking system and facilitating the repayment of loan obligations.
The IMF board states that low inflation and a stable exchange rate have been preserved in Serbia. The National Bank of Serbia pursued an adequate relaxing monetary policy and adopted temporary emergency measures to help preserve the liquidity of the banking sector and support lending activity, Novosti reports.
