DINKIĆ: Serbia does not need IMF's loans at the moment

Mlađan Dinkić

Minister of Economy and Regional Development, Mlađan Dinkić, said today (November 4, 2008) that Serbia did not need the loans of the International Monetary Fund (IMF) at the moment, but the new arrangement with that institution was required because of the psychological effect.

- The new arrangement would, probably, improve our reputation and rating with other investors and financial institutions - said Dinkić to the press during the break at the 8th economic summit of Serbia.

He explains that the Government of Serbia and the delegation of IMF, which is staying in Belgrade since October 28, still talk about the budget for year 2009 and that the arrangement will depend on the outcome of these talks.

According to his words, the position of the Government of Serbia is that the new arrangement should be made with IMF "for the sake of caution", which means that Serbia will not draw the money if it is not needed.

- Serbia does not need money now because the foreign currency reserves are big enough, but it needs the consulting role of IMF, especially in the situation of global financial crisis - Dinkić pointed out.