IMF and Serbia Reach Staff-Level Agreement on a Policy Coordination Instrument
A staff team of the International Monetary Fund (IMF), led by James Roaf, visited Belgrade during June 11–13, 2018 to conclude discussions on the authorities’ economic reform program to be supported by the IMF with a 30-month Policy Coordination Instrument (PCI). Consideration by the Executive Board is tentatively scheduled for mid-July. At the conclusion of the visit, Mr. Roaf made the following statement:
“The IMF mission reached staff-level agreement with the Serbian authorities, subject to approval by IMF Management and Executive Board, on the macroeconomic policies and reforms to be supported with a PCI. The PCI is a new instrument introduced by the IMF in 2017 to support countries, such as Serbia, that can benefit from the policy framework provided under an IMF program, but do not require IMF financial support. The PCI-supported program aims at maintaining macroeconomic and financial stability and advancing an ambitious structural and institutional reform agenda to foster rapid and inclusive growth, job creation and improved living standards.
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