Government of Serbia Wants Standby Arrangement with IMF

The authorities in Serbia have expressed an interest in achieving a standby arrangement with the IMF, said the resident representative of the International Monetary Fund (IMF) in Serbia, Yulia Ustyugova.

She said for the Politika daily that, in case a financial arrangement were achieved, the advisory arrangement between Serbia and the IMF that was valid at the time would be canceled. Ustyugova explained that the standard procedure after the filing of a request for a standby arrangement was for an IMF team to have talks with the government in order to assess the economic and financial situation and the scale of the total financial needs of the country, so that an agreement would be achieved.

– When an agreement is reached regarding the policies and the financial package, the Executive Board of the IMF is given a recommendation to support the political intentions of the country and expand access to the resources of the IMF. In case of a financial arrangement with the IMF, the current non-finance Policy Coordination Instrument will be canceled – Ustyugova told Politika.

The president of Serbia, Aleksandar Vucic, stated during his visit to the United Arab Emirates that he expected a standby arrangement to be agreed with the IMF.

Međunarodni monetarni fond-MMF Beograd

Vlada Republike Srbije

International Monetary Fund

IMF

Yulia Ustyugova

Aleksandar Vucic

arrangement with IMF

financial arrangement

advisory arrangement

standby arrangement

Policy Coordination Instrument