Serbia to draw EUR 56mn from latest EUR 383mn IMF loan tranche.

By bne IntelliNews June 30, 2010
Serbia will draw EUR 56mn or 15% of the fourth EUR 383.2mn instalment from the IMF loan, the central bank NBS has announced. The NBS explained the decision saying that country's foreign reserves are still high, while the country needs to cut the costs stemming from the stand-by deal with the lender. After the withdrawal of latest instalment, total disbursements under the SBA will reach EUR 1.47bn. However, the central bank noted that the full amount from the fourth instalment could be drawn if necessary. The IMF has completed the fourth review of Serbia's economic performance under SBA and approved disbursement of EUR 383.2mn tranche earlier in the week.

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