IMF to approve new PCI for Serbia in June
BELGRADE (Serbia), May 26 (SeeNews) – The International Monetary Fund (IMF) plans to approve a new policy coordination instrument (PCI) for Serbia in the second half of June, Serbian media reported.
The main objective of the ICP is to further support Serbia’s macroeconomic policy and post-pandemic recovery as well as to promote the structural institutional reforms necessary for stronger, greener and more sustainable economic growth, the agency said. Tanjug press quotes IMF Resident Representative in Serbia, Sebastian. Sosa, as said earlier this week.
“The first quarter of 2021 in Serbia has been better than expected, according to preliminary estimates a growth rate of 1.2% has been recorded,” Sosa said during the “Western Balkans: Post-Covid Economic Outlook” panel on Kopaonik Business Forum 2021.
Last month, Serbia’s finance ministry announced that it had discussed signing a new non-financial agreement with the IMF. Like the previous one, the new arrangement would be advisory in nature and not involve financial support, the finance ministry said.
In December, the IMF announced that it had completed the fifth and final review under a 30-month PCI for Serbia, a non-financial arrangement approved in July 2018 and focused on the implementation of structural reforms, following the successful completion of a three-year stand-by. agreement. The policy agenda facilitated macroeconomic and financial stability while advancing an ambitious reform agenda to foster rapid growth, job creation and improved living standards, the IMF said.