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Serbia and IMF reach deal on EUR 3 billion loan

Autor: ;mses;
BELGRADE, March 25 (Hina) - Serbian Economy Minister Mladjan Dinkic was quoted by the Belgrade electronic media on Wednesday as saying that Serbia reached an agreement with the International Monetary Fund (IMF) on a EUR 3 billion loan for this and next year.
BELGRADE, March 25 (Hina) - Serbian Economy Minister Mladjan Dinkic was quoted by the Belgrade electronic media on Wednesday as saying that Serbia reached an agreement with the International Monetary Fund (IMF) on a EUR 3 billion loan for this and next year.

Dinkic said that under the deal, which will be officially presented on Thursday, EUR 2.2 billion would be granted to Serbia for 2009 and that the country would also get funds for refinancing debts of the private sector.

"The agreement with the IMF is of exceptional importance for Serbia as it will bring stability to our financial sector," Dinkic said adding that the deal would also be an encouragement to potential foreign investors.

The negotiations on the latest deal between the Serbian government and the IMF started on 16 March.

This loan programme will replace a EUR 520 million stand-by arrangement agreed in January.

(Hina) ms

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