NBS: IMF confirms Serbia successfully implements its economic program

NEWS 27.08.2020 11:53
Source: N1

The International Monetary Fund (IMF) assessed that Serbia had continued with the successful implementation of the economic plan, supported by the Fund's Policy Coordination Instrument (PCI), the National Bank of Serbia (NBS) said in a statement on Thursday.

The IMF Executive Board’s evaluation followed the successful completion of the fourth, penultimate review of the results of Serbia’s economic program, the NBS statement said,

It also quoted the IMF as saying that in fighting the coronavirus pandemic, Serbia’s authorities adopted strict protective measures at an early stage.

The NBS statement further said the IMF Board positively assessed Serbia’s economic policymakers’ response to the coronavirus pandemic.

It added it was robust, timely and comprehensive, saying the authorities responded to the pandemic quickly with a large package of fiscal and monetary measures, as well as measures aimed at the banking sector.

The NBS also quoted the IMF Board as saying that low inflation and a stable exchange rate had been preserved in Serbia.

According to the IMF, the NBS had pursued an adequate relaxing monetary policy and adopted temporary emergency measures to help preserve the liquidity of the banking sector and support lending activity.

The IMF board also said the fiscal package adopted in response to the crisis was one of the largest in the region, and that it provided the necessary support to households, businesses and the health system.