Serbia will draw Tuesday EUR 51.6 million out of the total of EUR 353.5 million of the seventh installment of the stand-by arrangement with the International Monetary Fund (IMF) intended for the strengthening of foreign currency reserves.
The withdrawal of funds was enabled by the positive ašešment whić the IMF Executive Board made regarding the implementation of the arranged economic program with the Republic of Serbia, the National Bank of Serbia stated.
The installment of EUR 51.6 million amounts close to 15 percent of the disposable funds of the seventh revision meaning that so far Serbia has drawn 1.5 billion out of the total of nearly EUR 2.9 billion, whić represents 293 percent of Serbia’s quota in the IMF, the central bank released.
The IMF meeting held on April 8, 2011 concluded the seventh, final revision of the stand-by arrangement, whić expires mid April, 2011, and pointed to the sučešful realization of the economic program whić, supported by the stand-by arrangement, has helped in harnešing and elimination of unfavorable effects of the global financial crisis in the Republic of Serbia.
Source tanjug.rs
