Tag Archive
IMF reviews Serbia’s bailout loan
The International Monetary Fund is reviewing a euro2.9-billion (US$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... »
IMF In Bosnia To Review Loan Implementation
An International Monetary Fund mission arrived in Bosnia Wednesday to review implementation of a EUR1.15 billion loan package, the IMF said. The mission will be in Bosnia for about two weeks to see if Sarajevo has implemented reforms that the IMF demanded when it agreed the loan in July 2009 to help Bosnia weather the... »
IMF, Serbia discuss access to loan
An International Monetary Fund delegation opened talks with Serbia Tuesday to review whether the crisis-stricken country is adhering to the terms of a (EURO)2.9 billion ($3.97 billion) standby loan. Serbia has already drawn (EURO)1.12 billion from the loan that was agreed last March. The withdrawal of the rest of the funds depends on the outcome... »
Serbia to shed 14,000 government jobs
Serbia will have to lay off about one-fifth of its government employees — 14,000 people — to meet conditions set by the International Monetary Fund to receive more financial aid, the country’s finance minister said Monday. Finance Minister Diana Dragutinovic said Serbia aims to cut spending before the government resumes its talks with the IMF... »
IMF forgives debt, lends more to Serbia
The International Monetary Fund (IMF) has written off 550 million dollars of Serbian debt relating to Kosovo while agreeing to pump in more money into Serbia after Serb government agreed to scale back the crisis hit country’s massive public sector. Last year, Serbian government has asked the IMF to relieve the country from paying Kosovo’s... »
Serbia’s budget gap narrows ahead of IMF visit
Serbia’s budget gap narrowed to 53.8 billion Serbian dinars (577 million euros) in July, weeks ahead of an IMF mission reviewing the country’s three-billion euro loan, a report said on Monday. The International Monetary Fund wants Serbia to limit its deficit to within the 3 percent of GDP as a condition its loan to the... »
IMF: Serbia Visit On Loan Slice
An International Monetary Fund team is to visit Serbia in 11 days’ time to assess the country’s bid for a second stand-by instalment, the IMF said Thursday. The mission, due to arrive on Aug. 24, is to review whether Serbia has met IMF-set requirements as part of the EUR3-billion stand-by loan approved in May, an... »
Serbia: Kosovo recognition not IMF condition
The IMF has not raised the issue of Belgrade’s recognition of the self-proclaimed independence of Kosovo and Metohija and set it as a condition for offering crisis assistance to Serbia, and it has no intention to do that in the in the future, the Russian news agency Itar-Tass reported on Thursday. Itar-Tass says that rumor... »
IMF reduces Serbia GDP growth
IMF has reduced its projection for Serbia’s growth of the gross domestic product from last year’s 7.1% to 6% for 2009. IMF expects that the GDP falls at least 4% in 2009 among the emerging economies. Serbia is classified as an emerging economy. »
Growth, deficit up in Serbia
IMF says that although it expects Serbia’s growth for 2008-09 to be aver 6% the growth is unbalanced as the government spends too much money. IMF says that inflation is decreasing but the export base is very small to support the increasing private debt. This is causing the current account deficit to rise to over... »
