TABAKOVIC: Only precautionary agreement possible with IMF

Serbia's FX reserves are on an adequately high level and we won't strive to conclude an arrangement that would call for new borrowings, but only a precautionary arrangement, said Jorgovanka Tabakovic, the governor of the National Bank of Serbia (NBS).
- This means that we do not need funds but so-called monitoring of measures agreed upon with the International Monetary Fund (IMF) - said the governor.

Speaking at the event "Influence of International Finance Institutions on the Monetary Policy of Serbia" which was held Monday at the Military Academy, Tabakovic said that FX reserves exceeded EUR 10 billion, adding that 70 percent or 7 billion euro were the foreign currency reserves of the state.

He added that the structure of FX reserves at the moment was much more favorable than before, when the money of business banks accounted for the largest portion of those reserves.

She voiced her hope that inflation would remain within the target limits - 4+/-1%.

- This is a prerequisite for banks to offer Dinar loans - she noted.

Narodna banka Srbije Beograd

Međunarodni monetarni fond-MMF Beograd

NBS

Jorgovanka Tabakovic

IMF

precautionary arrangement

FX reserves

Influence of International Finance Institutions on Monetary Policy of Serbia

inflation

Dinar loan