Q:
A:
Final talks with International Monetary Fund underway
24 October 2005
Belgrade, Oct 24, 2005- The final part of the plenary session of the Mission of the International Monetary Fund (IMF) and the delegation of the Serbian government began today at the National Bank of Serbia (NBS), at which negotiations will be held on the verification of the fifth and the sixth revisions, and, at the same time final, three year financial arrangement with the IMF.
From left: Radovan Jelasic, Slobodan Lalovic and Predrag Bubalo
Author:
Tanjug
The delegation of the IMF is being led by Head of the IMF Mission in Serbia-Montenegro Piritta Sorsa, while the Serbian government’s delegation consists of Serbian Minister of Economy Predrag Bubalo, Serbian Minister of Labour, Employment and Social Policy Slobodan Lalovic and NBS Governor Radovan Jelasic, who also represents Serbia-Montenegro as a governor in the IMF.
In their talks with the IMF, representatives of the Serbian government will present a proposal of economic policies and a budget for the forthcoming year, as well as concrete suggestions for reduction of public expenditure, so that the effect of amendments adopted to the law on pensions does not count against the agreed upon reduction of its participation in GDP.
On October 20, talks between the Serbian government’s technical commission and the IMF began with the collection of data necessary for assessing the Serbian budgets for 2005 and 2006.
The final talks should be concluded by October 28, and, in case of their success, the IMF Board of Directors should bring a decision by the end of this year on ending the three year arrangement, thus bringing about the writing off of Serbia’s remaining 15 percent of debt to the Paris Club of Creditors, which stands at approximately $700 million.
In their talks with the IMF, representatives of the Serbian government will present a proposal of economic policies and a budget for the forthcoming year, as well as concrete suggestions for reduction of public expenditure, so that the effect of amendments adopted to the law on pensions does not count against the agreed upon reduction of its participation in GDP.
On October 20, talks between the Serbian government’s technical commission and the IMF began with the collection of data necessary for assessing the Serbian budgets for 2005 and 2006.
The final talks should be concluded by October 28, and, in case of their success, the IMF Board of Directors should bring a decision by the end of this year on ending the three year arrangement, thus bringing about the writing off of Serbia’s remaining 15 percent of debt to the Paris Club of Creditors, which stands at approximately $700 million.
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