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

International Monetary Fund

No 2010/025, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; deficit; Standard and Poor's; year inflation; inflation targeting framework; credit ratings from negative; staff appraisal; NBS's monetary policy committee; Fiscal stance; Credit; Income; Global (search for similar items in EconPapers)
Pages: 69
Date: 2010-01-27
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=23578 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2010/025

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().