IMF Staff Country Reports

Republic of Serbia: Seventh Review and Inflation Consultation Under the Stand-By Arrangement

Publication Date:

April 22, 2011

Electronic Access:

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Summary:

The global financial crisis unmasked Serbia’s unsustainable pre-crisis growth model. Looking back, the Stand-By Arrangement (SBA) provided effective insurance against a financial meltdown, initiated the needed re-balancing of the economy, but could not prevent large job losses. Looking ahead, the transition to a more sustainable growth model remains incomplete and fragile. The export-led recovery is expected to continue picking up steam, but labor market conditions will remain difficult. The current account deficit is expected to remain relatively high, requiring significant capital inflows to maintain external balance.

Series:

Country Report No. 2011/095

Subject:

Banking Economic sectors External debt Financial institutions Foreign banks Foreign exchange Inflation Prices Public sector