May 28, 2012
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IMF reviews stand-by deal with Serbia
24 August 2010 / AP, BELGRADE
The International Monetary Fund (IMF) is reviewing a $3.7 billion bailout loan deal with Serbia against a backdrop of weak economic indicators, with the national currency falling and prices surging.
An IMF delegation met Serbian government officials Monday for a scheduled evaluation of the latest fiscal, monetary and macroeconomic developments. The review is the fifth since the two-year loan was first approved in May 2009. Serbian officials say special focus will be on Serbian demands for the unfreezing of wages and pensions and a draft law on “fiscal responsibility” that should curb public spending and prevent uncontrolled foreign borrowing. The talks are held amid a sharp drop of the Serbian dinar and resulting price hikes for staples such as bread, cooking oil and milk.
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