Republic of Serbia: Third Review under the Policy Coordination Instrument-Press Release; and Staff Report

December 19, 2019

Preview Citation

Format: Chicago

Republic of Serbia: Third Review under the Policy Coordination Instrument-Press Release; and Staff Report, (USA: International Monetary Fund, 2019) accessed November 21, 2024

Summary

This paper discusses the Republic of Serbia’s Third Review Under the Policy Coordination Instrument (PCI). Serbia is the second IMF member country to request a PCI and aims to maintain macroeconomic and financial stability, while advancing an ambitious reform agenda to foster rapid growth, job creation and improved living standards. All quantitative targets (QTs) for end-September 2019 were met. Most reform targets (RTs) have been implemented. The IMF Staff recommends completion of the third review under the Policy Coordination Instrument and establishment of end-September 2020 QTs. Fiscal policy is on track so far, however, it will be important to closely monitor 2019 budget implementation to ensure that the deficit stays within the program ceiling. While progress has been made in reforming the tax administration and strengthening public investment management frameworks, delayed reforms of the public wage system and public employment framework need to advance in 2020.

Subject: Banking, Capital markets, Exchange rates, Financial institutions, Financial markets, Foreign exchange, Loans, Public debt

Keywords: Capital markets, CR, Current account, Exchange rate, Exchange rates, Executive board's decision, FDI inflow, Global, Government bond, Inflation band, ISCR, Loans, Management framework, Program implementation, Rate, Support medium-term growth

Publication Details

Pages:

64
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2019/369
Stock No:

1SRBEA2019002
ISBN:

9781513523415
ISSN:

1934-7685

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