IMF mission to visit Serbia for loan talks

The International Monetary Mission Fund (IMF) will send its mission to Belgrade on Monday to assess the country’s bid for a third installment of the stand-by agreement of an IMF.

The mission, set to arrive for a two-week visit on Monday, is to review whether Serbia has met IMF-set requirements as part of the 2.9-billion-euro standby loan agreement in April, an IMF official in Belgrade said.

Serbia has so far drawn 1.12 billion euros in two installments.

The completion of third review will depend on the findings of the mission.

Under the deal with IMF, Serbia agreed to keep public sector salaries and pension frozen in 2010, to lay off redundant staff at public administration, and to launch pension reform during the year.