IMF in Belgrade on August 20th

The Mission of the International Monetary Fund (IMF) is coming to Belgrade tomorrow to do the second review of the standby arrangement with Serbia, valued at EUR 1.2 billion.

As people at the IMF Office to Belgrade explain, the IMF delegation will be staying in Serbia until September 1st, and for the first time it will be led by the new head of the IMF Mission, James Roaf. Main topics for discussion with Serbian authorities will be the state of public finance and the possibility of raising pensions and salaries in the public sector after reducing them in November 2014.

The Government of Serbia expects the IMF to approve of the salary and pension raise because Serbia's budget deficit is smaller than planned.

The IMF Mission will also analyze the implementation of the agreement on reorganization of public companies, primarily the Electric Power Company of Serbia (EPS), Srbijagas and Serbian Railways.

The International Monetary Fund approved the first review of the three-year arrangement with Serbia in late june without any discussion because all indicative goals defined in the program for late March 2015 were met and all planned structural reforms implemented.

The agreement on the arrangement was reached November 2014, and the IMF Board of Executives approved it in February 2015.

Međunarodni monetarni fond-MMF Beograd

Elektroprivreda Srbije ad Beograd

Železnice Srbije a.d. Beograd

IMF

arrangement with IMF

precautionary arrangement with IMF

IMF Office to Belgrade

James Roaf

public sector wage and pension raise

salary

salaries

wage

wages

pension

pensions

public sector salary

EPS