Macroeconomics

Despite continued growth in Turkey’s economy, the International Monetary Fund (IMF) has warned that the country's government must put forward structural reforms to continue economic momentum.

IMF: Unemployment, public debt, budget deficit problems

BELGRADE -- IMF Mission to Serbia head Zuzana Murgasova said on Thursday that the international financial institution reached an agreement with the Serbian government.

It concerns a new three-year precautionary arrangement of around EUR 1 billion.

Central bank trims key policy rate to eight percent

BELGRADE -- The National Bank of Serbia (NBS) decided to trim the key policy rate by half a percentage point, to eight percent, the Serbian central bank said on Thursday.

BELGRADE - The Executive board of the National Bank of Serbia (NBS) has lowered banks' foreign exchange (FX) reserve requirement ratios by 1 percentage point and raised the dinar share of FX required reserve allocations by 2 percentage points, the NBS said in a release on Thursday.

BELGRADE - The National Bank of Serbia (NBS) decided to trim the key policy rate by half a percentage point, to 8 percent, the Serbian central bank said in a release Thursday.

In the first eight months of 2014, Macedonia attracted €176 million in FDI, which was 11 €million less than the same period last year, data from the Central Bank show.

Macedonia attracted only €251 million in FDI in 2013, which was the worst score in the region, below Kosovo, which attracted slightly more - €259 million.

As widely expected, the Central Bank kept its policy rates constant at its Oct. 23 rates meeting.

Analysts interpreted the move as proof of its tight stance, but I’d argue that the Bank was prepping for an early rate cut with its other actions this week.

Turkey's Central Bank on Oct. 23 left interest rates unchanged, saying it would not loosen monetary policy until there is a significant improvement in the inflation outlook.        

Serbia wants agreement with IMF "as soon as possible"

BELGRADE -- Serbia wants to sign an agreement with the International Monetary Fund (IMF) as soon as possible, Finance Minister Dušan Vujović said on Wednesday.

The IMF said on Wednesday it expected a narrower recession in Cyprus than it had previously forecast for 2014, but it cautioned against “reform fatigue” in the bailed-out eurozone nation after a new round of aid was held up by a dispute over foreclosures.