The International Monetary Fund (IMF) and the World Bank (WB) on Thursday praised Serbia’s progress in implementing a three-year precautionary stand-by arrangement the Serbian government agreed with the IMF in early 2015.
On the fringes of an IMF-WB meeting in Washington, held as part of the institutions’ spring session, Serbian Finance Minister Dusan Vujovic met with WB Country Director for the Western Balkans Ellen Goldstein, who said that Serbia has achieved special results in the field of macro-monetary stabilisation and fiscal consolidation.
Serbia’s reversal of a negative GDP growth trend undeniably points to positive progress in implementing the programme, Goldstein also said.
Serbia must persevere in structural reforms it has initiated and continue on the path of dynamic economic growth and a stable macroeconomic situation, Vujovic said, highlighting the significance of the support provided by the WB in this field through structural and other loans.
Serbia is sending a positive message to the world, said Goldstein, noting that she is optimistic about the direction the country is heading in and confident that the set objectives will be achieved. Goldstein compimented the commitment to reforms in health and education, with particular emphasis on Early Child Development Program and construction of new schools.
During the meetings, it was agreed that the World Bank will focus on three points: a programme for the companies in the Agency for Privatization’s portfolio, and the public enterprises and public administration reforms. The World Bank will continue to work with Serbia on a four-year programme of cooperation between the country and the international financial institutions.
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