Mali: New three-year PCI agreed with IMF

BELGRADE - Serbian Finance Minister Sinisa Mali announced on Tuesday a closing meeting with an IMF mission led by Donal McGettigan had been held earlier in the day to complete a fourth - and final - review under Serbia's current standby arrangement with the IMF and that a new three-year, non-financial Policy Coordination Instrument (PCI) had been agreed with the financial institution.

"The new arrangement is a clear signal to investors, which are coming to our country in growing numbers, that Serbia is committed to accelerated growth, development and modernisation while preserving macroeconomic stability. That is a policy we have been pursuing for years now, and one that has resulted in obtaining investment-grade credit rating for the first time in our history," Mali wrote in an Instagram post.

Continued structural reforms as well as a commitment to accomplishing the objectives that are a part of the new arrangement with the IMF are the best guarantee that we will not give up on that policy in the future, Mali wrote in the post.

The fact that Serbia has managed to meet reform objectives from the previous arrangement is also good news, Mali pointed out and added that IMF representatives were pleased with that, as well as with Serbia's macroeconomic indicators, which he noted had led to the country getting the investment-grade rating.