AP, October 25, 2010
IMF reviews Serbia's $4B bailout loan
BELGRADE, Serbia -- The International Monetary Fund has started reviewing a euro2.9 billion ($4 billion) rescue loan deal with Serbia to make sure public finances are improving despite tough economic conditions.
An IMF delegation met Serbian government officials Monday to evaluate the latest fiscal, monetary and macroeconomic developments. It will review the budget and oversee the creation of a new one for 2011.
The check-up is the sixth since the two-year loan was first approved in April 2009.
Serbia has taken nearly euro2 billion from the approved sum to boost foreign currency reserves and stop the steady fall of the dinar against the euro.
Authorites are also concerned about the inflation rate, which has soared to nearly 10 percent - some two percentage points above the official target.