Cvetković announced possibility of change in type of arrangement with IMF
The Prime Minister of Serbia, Mirko Cvetković, has announced
the possibility of change in type of the arrangement with the International
Monetary Fund (IMF).
According to the announcement of the Government of Serbia, during the talks
with Murillo Portugal, the Deputy Director General of IMF, Cvetković expressed
readiness to have the state and the effects of the crisis in Serbia analyzed in
association with that finance institution, in order for the adequate measures
to be introduced.
- These measures may include the change in type of the arrangement with IMF –
said Cvetković.
IMF granted 402.5m EUR worth of “stand-by” arrangement to Serbia on January 17th,
2008. This 15-month arrangement makes it possible for Serbia to draw the money in
order to increase foreign currency reserves in case of the need for financial
support.
The Deputy Director General of IMF, Murillo Portugal, estimated that Serbia had made the arrangement with IMF on time, and that it had alleviated the negative effects of the global economic crisis in that way.
The meeting was attended by the Serbian Minister of Finance, Diana Dragutinović, and the Governor of the National Bank of Serbia, Radovan Jelašić.
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