Keepin touch

Whether you have a question, comment, suggestion or any problem in the purview of the government, send us your message and we will try to respond as soon as possible. If your problem is not in our purview, we will forward your message to the relevant institution.

The Government of the Republic of Serbia

In the service of citizens

Serbia inherits Serbia-Montenegro's rights, obligations towards IMF

Belgrade, 8 June 2006

The National Bank of Serbia (NBS) informed Rodrigo de Rato y Figaredo, the Managing Director of the International Monetary Fund (IMF), that according to Article 60 of the state union's Constitutional Charter, Serbian parliament decided on June 5 this year that the Republic of Serbia is to inherit Serbia-Montenegro's international and legal subjectivity and jurisdiction.

Therefore, Serbia will now continue to hold Serbia-Montenegro's membership in the IMF and participate in the Special Drawing Rights Department and will be obliged to keep fulfilling all the obligations according to the IMF's statute, reads the letter which NBS sent to the IMF Managing Director and also forwarded to the Montenegrin Central Bank.

The NBS recalls that the Serbia-Montenegrin Constitutional Charter was also signed by EU High Representative Javier Solana and that it clearly states that a member state that willingly chooses to withdraw from the union does not inherit the union's international and legal subjectivity.

When it comes to the IMF, it should be noted that membership of this international financial organisation was defined in December 2000 with the NBS fulfilling the necessary conditions for that, such as settling old obligations and quotas, adds the statement.

Also, the NBS has settled all financial obligations toward the IMF, including obligations regarding the three concluded financial arrangements. Serbia has already settled obligations regarding the funds used as part of post-conflict aid and the Stand-By Arrangement, recalls the NBS in its letter to the IMF.