Republic of Serbia: Request for Stand-By Arrangement: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Serbia

Author: International Monetary Fund

Volume/Issue: Volume 2009 Issue 020

Publication date: January 2009

ISBN: 9781451834918

$20.00

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Topics covered in this book

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Banks and Banking , Exports and Imports , Finance , Inflation , Economics- Macroeconomics , ISCR , CR , request , supply side , , SDR , authority , market confidence , executive board discussion , deficit target , savings measure , authorities' recognition , request for stand-by arrangement , core inflation concept , Inflation , Fiscal stance , Income , Global

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Summary

With global financial turmoil increasingly spilling over into Serbia, the authorities have requested a 15-month Stand-By Arrangement (SBA), which they intend to treat as precautionary. The authorities’ program aims at safeguarding macroeconomic and financial stability, in view of the global financial turmoil. The authorities’ SBA-supported program responds to the abrupt deterioration in global financial sentiments. Safeguarding macroeconomic and financial stability are the primary objectives of the program, and the authorities recognize that policies will need to be strengthened across the board.