Srbijagas to become current on all obligations by 2021 - IMF

"The authorities reported that the company is in the process of repaying state-guaranteed loans from its own resources, with the aim to be current on all its obligations by 2021," the IMF said in a staff report following the completion of the third review under the Policy Coordination Instrument (PCI).

The payment discipline of Srbijagas has improved, and an investment appraisal methodology proposed by the World Bank is being implemented, the Serbian government said in a program statement included in the report.

"We will phase out Srbijagas’ reliance on government support for servicing debt incurred in the period 2008-2012 by the end of the program period," the government noted.

Last month, the managing director of Srbijagas, Dusan Bajatovic, said the government plans to complete the unbundling of the company by October 2020 to create conditions for free competition on the natural gas market.