The International Monetary Fund (IMF) has given approval for Serbia to draw a EUR 349.6 million credit tranche, and Serbian Prime Minister Mirko Cvetkovic says that this is the confirmation that Serbia has reached an agreement with this financial institution on a sustainable economic policy for 2010.
That money will be important for the development of the Serbian economy inthe forthcoming period, because it will help improve the foreign currencyreserves and will send a good signal to investors, Cvetkovic said on Thursday.
On Wednesday, the IMF completed the second review of Serbia's economicperformance under a programme supported by a EUR 2.9 billion stand-byarrangement and the IMF Executive Board decided to release the credit tranche.
Earlier this year, Serbia drew a tranche of EUR 788 million, which bringsthe total amount drawn to EUR 1.13 billion.
Belgrade media quoted IMF Deputy Managing Director Takatoshi Kato as sayingthat "the impact of the global financial and economic crisis on Serbia hasso far been successfully contained."
