Republic of Serbia: Second Review Under the Stand-By Arrangement and Requests for Waiver of End-September Performance Criterion, Modification of End-December Performance Criteria, Rephasing of Purchases, and Financing Assurances Review

January 27, 2010

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Format: Chicago

Republic of Serbia: Second Review Under the Stand-By Arrangement and Requests for Waiver of End-September Performance Criterion, Modification of End-December Performance Criteria, Rephasing of Purchases, and Financing Assurances Review, (USA: International Monetary Fund, 2010) accessed October 5, 2024

Summary

Serbia’s Second Review under the Stand-By Arrangement and requests for Waiver of Performance Criterion are examined. The contraction in GDP has been limited relative to regional comparators, but absorption and external trade have fallen faster than expected. Foreign parent banks have rolled over their external exposure vis-à-vis Serbia, as agreed under the Bank Coordination Initiative. Rapidly rising nonperforming loans and uncertainty over real sector prospects have crimped new credit, notwithstanding government efforts to support bank lending through interest subsidies and loan guarantees.

Subject: Banking, Credit, External debt, Fiscal policy, Fiscal stance, Foreign exchange, Income, Money, National accounts

Keywords: CR, Credit, Credit ratings from negative, Deficit, Fiscal stance, Global, Income, Inflation targeting framework, ISCR, NBS's monetary policy committee, Staff appraisal, Standard and Poor's, Year inflation

Publication Details

Pages:

69
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/025
Stock No:

1SRBEA2010001
ISBN:

9781451834949
ISSN:

1934-7685

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