IMF mission visits Serbia for review of 2.4 bln euro stand-by deal

The mission, which is led by the head of the IMF office in Serbia, Donal McGettigan, will hold talks with central bank and finance ministry officials on the latest macroeconomic developments, the economic outlook and risks, and key issues related to programme implementation, the central bank said in a statement.

The mission will stay in Belgrade until March 26, the statement read.

In December, the IMF allowed Serbia access to some 400 million euro, concluding a second review of the stand-by facility. It noted back then that the Serbian authorities intend to treat the SBA as precautionary starting from the second review, one review earlier than planned.

In December 2022, the Fund approved the SBA, replacing the Policy Coordination Instrument (PCI) approved in June 2021 to support Serbia's recovery from the pandemic, maintain macroeconomic stability, and anchor the medium-term fiscal policy framework. The PCI was of advisory nature and did not envisage financial support.

In October, the IMF said it expects Serbia's economy to grow by 3% in 2024.

($ = 0.914 euro)