IMF directors to approve disbursement of next EUR 380mn tranche to Serbia.

By bne IntelliNews June 28, 2010
The IMF Board of Directors will most likely approve the disbursement of the next EUR 380mn instalment under the stand-by loan deal with Serbia, the Fund's resident representative, Bogdan Lissovolik, said. He added that the fund was still analysing some of the economic data, but noted that there are no obstacles for the disbursement of next instalment as the authorities have complied will all the requirements of the IMF. We recall that the IMF mission completed the fourth review of its stand-by loan arrangement with Serbia last month, saying that the disbursement of the next tranche is conditional on speeding up of the public sector workforce cuts and the pension system reform. The government has already submitted the pension system reform plan to the parliament and has recently adopted a decision on acceleration of public workforce cuts. Serbia drew half the EUR 360mn tranche the IMF approved in April. The aggregate disbursements under the arrangement have reached EUR 1.3bn.

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