IMF, Serbia to discuss new loan deal in March: IMF
Published on Jan 21, 2014 7:23 PM
BELGRADE (REUTERS) - The Inernational Monetary Fund said it will visit Serbia from late February to mid-March to discuss a new precautionary loan deal with Belgrade, after freezing a previous arrangement due to the government's failure to cap spending and the public debt.
Serbia, which begins European Union accession talks in Brussels on Tuesday, wants a back-up deal with the International Monetary Fund to reassure investors as it expects growth to slow to about 1 per cent this year from some 2 per cent in 2013.
"An IMF mission, led by Zuzana Murgasova, will visit Belgrade during February 26-March 13 to initiate discussions on a possible IMF-supported program," Mr Daehaeng Kim, the Fund's representative in Serbia, said in an e-mailed statement on Tuesday.
The Washington-based lender froze its previous 1 billion euro (S$1.73 billion) loan deal with Belgrade in 2012 due to overspending and rising debt.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!