Tabakovic: Serbia's ties with BIS reflect quality of country's policies

BASEL - National Bank of Serbia (NBS) Governor Jorgovanka Tabakovic has met with Bank for International Settlements (BIS) General Manager Pablo Hernandez de Cos in Basel, and noted that, for a country the size of Serbia, with a small and open economy, strong ties with the BIS were not merely a matter of prestige but, above all, a matter of the quality of the policies Serbia was implementing and the credibility it was building.

Tabakovic said the Serbian financial system was now "characterised by stability - inflation within the target band, an exchange rate that serves as an anchor of overall economic stability, high bank capitalisation and liquidity, a record-low share of non-performing loans, and increasing dinarisation," the NBS said in a statement on Friday.

"I have stated many times that stability is not an objective per se. It is a condition for long-term and inclusive growth, for investment, for raising living standards, and for protecting the most vulnerable segments of the population from the costs of high inflation,” Tabakovic said.

At the November 25 meeting, she also expressed a desire of the NBS to "deepen its cooperation with the BIS, both through research and joint projects and through practical exchange of experiences," the central bank said.