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The Government of the Republic of Serbia

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Serbia perseveres to prevent Kosovo from joining IMF, World Bank

Belgrade/Washington, 11 April 2008

Serbian Deputy Prime Minister Bozidar Djelic stated that the Serbian delegation, which he is heading to the IMF and World Bank spring meeting, is doing all it can to prevent Kosovo from becoming a member of these international institutions as an independent state.

In an interview to the Voice of America, Djelic reiterated that if it signs the Stabilisation and Association Agreement with the EU, Serbia could only benefit from it.

He noted that since Serbia has a caretaker government, it will not be able to discuss a new programme with the IMF at this spring meeting and recalled that the IMF has listed Serbia among countries whose economy is most likely to experience shocks in the future.

Therefore, we will talk with the IMF and try to determine the measures our country should take, said Djelic and added that it is important to heed the advice of an institution which is relevant when it comes to reducing investment risks in a country.

As for the World Bank, Djelic said that he will meet with its representatives and see how far Serbia has progressed with the implementation of the new three-year plan worth $600 million, which, apart form the funds intended for the revival of RTB Bor, also includes very important agreements and loans regarding energy efficiency, irrigation and construction of new roads.

According to him, the Serbian delegation will insist that Serbia’s debt to the World Bank is at least partly transformed from the euro into the dollar, since the value of the dollar is constantly falling, which means that it is costing Serbia more to repay its debt.

Speaking about the options for reaching new deals with the IMF and the World Bank, Djelic explained that Serbia now has a caretaker government which has to act according to laws and the Constitution.