IMF mission arrives for fifth review of SBA with Serbia on August 23.

By bne IntelliNews August 11, 2010
PM Mirko Cvetkovic has announced that the next round of talks with the IMF mission under the fifth review of Serbia's stand-by agreement (SBA) with the fund will start on August 23. According to Cvetkovic, the fiscal responsibility bill will be the main item on the agenda of the upcoming talks. We recall that the fiscal responsibility legislation seeks to limit public debt and public spending. The draft law envisages setting thresholds equalling 40% of GDP for the public debt and 2.5% of GDP for the general government deficit. The law is to be adopted next month, according to earlier announcements. Cvetkovic also said that lifting a ban on public sector wages and pensions freeze is not likely this year given Serbia's SBA with the IMF, but noted that such a move could be expected next year. The total disbursements under Serbia's EUR 2.9bn stand-by loan deal with the IMF have accumulated to EUR 1.3bn.

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