Minister of Finance Dusan Vujovic said that Serbia and the International Monetary Fund will finalise details of a precautionary loan agreement next month as the government struggles to restore growth and the country faces a second year of economic contraction.
In an interview with Bloomberg, Vojovic said that the Serbian government headed by Prime Minister Aleksandar Vucic reached a staff-level agreement with the IMF in November and the progress of its commitments under that accord will be monitored as of 1 January this year.
In the next couple of days, a week or two we are finalizing the memorandum of economic and financial policies and the IMF is finalizing the package, Vujovic said.
It is going to be a precautionary arrangement, he said adding that the plan is to send the package to the IMF Board of Directors on 1 February.