Cvetkovic: IMF approves EUR 1 billion precautionary loan to Serbia

(Mirko Cvetkovic)

Prime Minister Mirko Cvetkovic stated Thursday night that the IMF Executive Board had approved a new precautionary arrangement with Serbia, which would put €1 billion at Serbia’s disposal in case of a large economic crisis.

Cvetkovic told the press at the Serbian Parliament that that was a result of successful talks between the representatives of Serbia and the IMF, voicing his hope that Serbia would not need the granted funds after all. He observed that the arrangement was important and that it affirmed that the state was conducting a valid economic policy

- That has positive effects on prospective foreign investors - PM said.

Answering journalists' questions about the Russian loan, Cvetkovic reminded that Serbia had withdrawn USD 200 million to date, and that the remaining funds would be successively allocated for projects.

- After the first round of talks, we all came to a conclusion that Serbia does not have enough projects to draw that tranche of the loan and that it is not possible to design so many of them in a short time, and we also talked about the railway infrastructure - said the prime minister.

Vlada Republike Srbije

Međunarodni monetarni fond-MMF Beograd