IMF opens talks on new loan deal with Serbia

13-Nov-2012

I like this.

Be Sociable, Share!
-->

By

Mr. Guliyev is specialized in international relations / business, global governance and investments areas. He is committed to be successful.







BELGRADE, Serbia (AP) — The International Monetary Fund has opened talks with Serbia that could potentially lead to a new loan deal for the Balkan country.

The talks which started Tuesday will focus on pledges by Serbia’s new government to slash public spending in a 2013 draft budget.

Serbia’s deficit in 2012 has soared to around 7 percent of gross domestic product. The draft budget projects the deficit falling to 3.6 percent.

The IMF froze a €1 billion ($1.27 billion) standby loan with Serbia in January over the country’s rising public spending.

The government says it needs a new deal with the IMF as a guarantee to foreign investors that Serbia’s economy is on the right track.

Be Sociable, Share!
Tags: , , , , ,

Post a Comment

Your email is never published nor shared. Required fields are marked *

*
*

Subscribe without commenting









Loading...
Join Oxstones Investment Club's Daily Newsletter