Official talks launched with IMF

The National Bank of Serbia (NBS) and representatives of the IMF mission held their plenary meeting in Belgrade on Monday, marking the start of official talks.

They will discuss the results of the new macroeconomic and structural reforms, supported by the PCI-Policy Coordination Instrument, the Serbian government has announced.

The Serbian delegation is led by NBS Governor Jorgovanka Tabakovic, who also represents Serbia at the IMF, and includes representatives of the ministries of finance and economy.

The mission of the International Monetary Fund, led by James Roaf, will stay in Belgrade until October 4.

During the visit of the IMF Mission, the current economic, monetary and fiscal developments in the country will be considered and analysed, as well as projections of macroeconomic indicators for this and next year.

Fulfillment of objectives and the implementation of agreed economic policy measures will be discussed, in order to preserve the internal and external balance, the strengthening of institutions and the continuation of reforms in the financial sector.

Particular attention during the talks will be dedicated to accelerating the commenced structural reforms, which should contribute to productivity growth, private sector employment and the achievement of high and sustainable growth rates.

The Policy Coordination Instrument, which was approved to Serbia on July 18, is of advisory nature, does not foresee the use of the financial resources of the International Monetary Fund and does not have any costs for Serbia.

It has been approved for a period of 30 months, and a total of five semiannual reviews of the results of the program are planned, according to the announcement.