IMF to remain Serbia's consultant? – Public enterprises to be in focus from 2018

In 2018, Serbia will enter a consulting program with the International Monetary Fund (IMF), instead of a financial program, Blic learns.

The final decision will be known in early 2018, following a detailed analysis of potential negative effects of non-binding measures on further reformation of the public and the fiscal sectors.

The analysis will be performed by Minister of Finance Dusan Vujovic and Prime Minister Ana Brnabic, and consultations with President Aleksandar Vucic will also be carried out.

– Top state authorities believe that the cooperation with the IMF regarding fiscal consolidation has produced remarkable effects and that another precautionary financial arrangement is not needed. However, we do need a guide for further reforms of public and state companies, in which not all goals have been achieved. This was emphasized during the talks within the last review, when James Roaf and his associates let us know that they had expected more success in clearing the situation regarding public and state companies. Some of them, such as MSK and Azotara, are still potential bombs that can jeopardize our financial consolidation results – the Blic source from the Government of Serbia says and adds that the solution for the chemical complex will be known soon.

As Blic learns, a new IMF instrument, defined in July, should be implemented in Serbia, where it will have its premiere. According to the way it was presented, the daily writes, the IMF will not act as a controller.

Međunarodni monetarni fond-MMF Beograd

Vlada Republike Srbije

Ministarstvo finansija Republike Srbije

MSK a.d Kikinda

HIP-AZOTARA d.o.o. Pančevo

MSK

arrangement with IMF

IMF consultancy program

IMF financial program

public enterprises in Serbia

Dusan Vujovic

Ana Brnabic

Aleksandar Vucic

James Roaf

chemical industry in Serbia