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Serbia could seek precautionary IMF loan in 2011
December 14, 2010 / 2:34 PM / 7 years ago

Serbia could seek precautionary IMF loan in 2011

BELGRADE, Dec 14 (Reuters) - Serbia could seek a precautionary loan with the International Monetary Fund in 2011, after its existing 3-billion-euro ($3.97 billion) stand-by deal with the lender expires in February, the country’s finance minister said on Tuesday.

“My personal opinion is that if we are having a (new) deal with the IMF, it would be precautionary,” Diana Dragutinovic said at an event in Belgrade.

Serbia agreed to target a budget deficit of 4.1 percent of GDP in 2011 under the terms of the 3 billion euro loan deal it secured with the IMF in 2008.

Dragutinovic also said Serbia had agreed with the IMF to adopt its 2011 draft budget on Thursday, a day after the original schedule, and in line with new legal provisions about fiscal responsibility that regulate government spending. (Reporting by Aleksandar Vasovic; Editing by Susan Fenton)

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