Serbia and Montenegro: First Review Under the Extended Arrangement

Volume/Issue: Volume 2003 Issue 151

Publication date: June 2003

ISBN: 9781451840865

$20.00

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Topics covered in this book

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Banks and Banking , Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , authorities of Serbia and Montenegro , enterprise privatization procedure , government , revenue effort , net indebtedness , policy implementation , Privatization , Currencies , Monetary base , Exchange rates , Europe

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Summary

This paper assesses Serbia and Montenegro’s First Review Under the Extended Arrangement (EA). Serbia and Montenegro’s economic and policy performance has remained good under the current EA, but daunting challenges lie ahead. Macroeconomic policies need to be carefully calibrated to address potential risks to macroeconomic and financial instability, while the task of economic restructuring will be increasingly difficult. The IMF staff welcomes the authorities’ commitment to address delays in the adoption of reform legislation that led to nonobservance of some structural benchmarks and notes the need to avoid new slippages.