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The Government of the Republic of Serbia

In the service of citizens

Agreement reached on future standby arrangement with IMF

Belgrade, 2 November 2022

Deputy Prime Minister and Minister of Finance Sinisa Mali assessed today that the visit of the IMF mission to our country was successful and pointed out that an agreement was reached with the delegation of this financial organization on the future standby arrangement for Serbia, which would last two years, in the total amount of €2.4 billion.

The IMF mission in Serbia today at the National Bank wrapped up the two-week talks on the future arrangement of Serbia with this international financial institution.

Mali explained that the third review of the current Policy Coordination Instrument (PCI) has been completed, as well as that future cooperation has been agreed upon, and added that he expects official confirmation and approval from the Board of Directors of the IMF during December, after which we would officially enter into the new arrangement.

According to him, it will be additional support for Serbia to get through the crisis as easily as possible, but, above all, additional security that the economic consequences of the conflict in Ukraine do not stop the reforms that have started, in order to mitigate the effects of the slowdown of the world economy on Serbia.

He reported that the IMF delegation, headed by Jan Kees Martijn, assessed that Serbia, after a strong recovery from the pandemic, faced external influences, but that, despite this, it managed to maintain macroeconomic stability.

The IMF, as he emphasised, particularly pointed out that Serbia has so far shown resistance to negative events in Europe and the world.

When it comes to the arrangement, the Deputy Prime Minister said that we are continuously meeting the current goals and that we are now continuing with the preservation of the achieved financial stability, but also with the implementation of the clearly outlined reform tasks that we set together with the IMF earlier.