Official talks between Serbian delegation, IMF mission begin in Belgrade

BELGRADE - Official talks between Serbian officials and an International Monetary Fund (IMF) mission began on Wednesday with a plenary meeting at the National Bank of Serbia (NBS).

The Serbian delegation was headed by NBS Governor Jorgovanka Tabakovic, who also serves as the Serbian governor to the IMF.

The talks were also attended by Serbian First Deputy PM and Finance Minister Sinisa Mali and Deputy PM and Minister of Economy Adrijana Mesarovic and their aides, the NBS said in a statement.

The IMF mission, led by Annette Kyobe, new mission chief, will be staying in Belgrade until June 11.

"The talks that began today are part of the first review of the implementation of the economic programme supported by the Policy Coordination Instrument (PCI), approved by the IMF to Serbia on December 9, 2024, as well as consultations under Article IV of the IMF’s Articles of Agreement.

The goals of the programme are to preserve macroeconomic and financial stability, maintain fiscal discipline and a downward trajectory of public debt, further strengthen the resilience of the energy sector and create room for meeting investment needs in that sector, as well as to encourage inclusive and sustainable medium-term growth through structural reforms.

During the mission, current macroeconomic trends and short- and medium-term projections will be thoroughly examined, along with the implementation of the goals of the agreed economic programme and progress in pursuing the reform agenda.

In addition, consultations under Article IV of the IMF’s Articles of Agreement will be conducted, which are regularly held with all member countries as part of the supervisory function of this international financial institution. The previous consultations with Serbia were successfully conducted in 2023.

The PCI is advisory in nature and does not involve the use of financial resources. It is approved for countries that are committed to reforms and implement strong and credible economic policies," the NBS also said.