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The Government of the Republic of Serbia

In the service of citizens

World Bank gives positive assessment of Serbian reforms

Belgrade/Washington, 21 October 2007

A Serbian government delegation led by Deputy Prime Minister Bozidar Djelic held separate meetings in Washington with World Bank Managing Director Graeme Wheeler and new head of International Monetary Fund (IMF) Mission to Serbia Paul Hilbers.

Djelic said after meeting with the World Bank Managing Director that the Serbian delegation exposed its proposal of Kosovo’s debt settlement under which Serbia should be reimbursed or have $215 million deducted from its total debt to the World Bank the amount which we already paid as debt of the Serbian southern province.

He stressed that this has nothing to do with sovereignty as the City of Belgrade too pays back its debts.

According to him, World Bank representatives showed good will to consider this proposal.

Wheeler said that Serbia achieved a great success in implementation of economic reforms, especially in the area of privatization, public consumption and poverty reduction. He noted that in the upcoming period, Serbia must work on reducing the balance of payments deficit and structural reforms.

After the meeting with head of IMF delegation for Serbia, it was announced that an IMF delegation will visit Serbia next week to discuss a possible new arrangement with this financial institution.

The Serbian delegation also met with Executive Director of the World Bank Michel Mordasini of Switzerland, who is also representing Serbia in this institution.