• user warning: Table './taijimen_wpn2010/eng_cache_filter' is marked as crashed and should be repaired query: SELECT data, created, headers, expire, serialized FROM eng_cache_filter WHERE cid = '1:1e1426d2f97834977a1f3b67083ce7e9' in /home/www/html/pdnonline/includes/cache.inc on line 25.
  • user warning: Table './taijimen_wpn2010/eng_cache_filter' is marked as crashed and should be repaired query: UPDATE eng_cache_filter SET data = '<p>● Authorities indicated their intention to continue treating the arrangement as precautionary</p>\n<p>● Serbia’s economic recovery exceeded expectations</p>\n<p>● Full implementation of program commitments is critical to strengthen the foundations for robust and inclusive growth</p>\n<p>The Executive Board of the International Monetary Fund (IMF) on August 31, 2016 completed the combined fourth and fifth reviews of Serbia’s economic performance under the Stand-By Arrangement (SBA). The completion of the review will make available the cumulative amount of SDR 608.01 million (about €761.6 million). The Serbian authorities have indicated their intention to continue treating the arrangement as precautionary.</p>\n<p>The Executive Board approved the 36-month, SDR 935.4 million (about €1.2 billion at the time of approval) SBA for Serbia on February 23, 2015.</p>\n<p>Following the Executive Board’s decision, Mr. Tao Zhang, Deputy Managing Director and Acting Chair, issued the following statement:</p>\n<p>“Serbia’s economic recovery has exceeded expectations, supported by efforts to strengthen public finances, advance structural reforms, and boost investment confidence. However, vulnerabilities remain, including from elevated public debt and lingering structural challenges in an uncertain external environment. Full implementation of program commitments is critical to strengthen the foundations for robust and inclusive growth, restore public debt sustainability, and rebuild policy buffers.</p>\n<p>“The fiscal over-performance has continued in 2016, supported by strong revenue and tight control of current expenditures. The challenge is to sustain the fiscal adjustment to place the high public debt firmly on a downward path. The completion of the first phase of public sector rightsizing will help contain the public sector wage bill in 2016, and further optimization will be guided by in-depth functional analysis. While the execution of capital expenditure has improved this year, measures are needed to strengthen the project appraisal process, enhance feasibility studies and risk analysis, and establish a single pipeline of public investment projects for the budget.</p>\n<p>“The cautiously accommodative monetary policy stance is appropriate in view of strong fiscal consolidation and low inflation. The central bank’s continued commitment to the inflation-targeting regime and exchange rate flexibility is welcome.</p>\n<p>“Positive momentum in the financial sector reforms needs to be maintained by fully implementing the non-performing loans strategy. In addition, it is critical to implement the reform agenda of the state-owned financial institutions to reduce financial vulnerabilities and fiscal risks.</p>\n<p>“Decisive implementation of the identified structural reforms is essential for reducing fiscal risks and supporting competitiveness and growth. While there has been good progress, full implementation of state-owned enterprise restructuring and resolution plans is needed to avoid further increase of fiscal risks and to achieve the program objectives.”</p>\n<p>Source: International Monetary Fund</p>\n', created = 1740817724, expire = 1740904124, headers = '', serialized = 0 WHERE cid = '1:1e1426d2f97834977a1f3b67083ce7e9' in /home/www/html/pdnonline/includes/cache.inc on line 108.
  • user warning: Table './taijimen_wpn2010/eng_cache_filter' is marked as crashed and should be repaired query: SELECT data, created, headers, expire, serialized FROM eng_cache_filter WHERE cid = '1:6c913b98ffd829ccc4b34210f147a51e' in /home/www/html/pdnonline/includes/cache.inc on line 25.
  • user warning: Table './taijimen_wpn2010/eng_cache_filter' is marked as crashed and should be repaired query: UPDATE eng_cache_filter SET data = '<p>The Executive Board of the International Monetary Fund (IMF) on August 31, 2016 completed the combined fourth and fifth reviews of Serbia’s economic performance under the Stand-By Arrangement (SBA). The completion of the review will make available the cumulative amount of SDR 608.01 million (about €761.6 million). The Serbian authorities have indicated their intention to continue treating the arrangement as precautionary.</p>\n', created = 1740817724, expire = 1740904124, headers = '', serialized = 0 WHERE cid = '1:6c913b98ffd829ccc4b34210f147a51e' in /home/www/html/pdnonline/includes/cache.inc on line 108.
  • user warning: Table './taijimen_wpn2010/eng_cache_filter' is marked as crashed and should be repaired query: SELECT data, created, headers, expire, serialized FROM eng_cache_filter WHERE cid = '1:4c12ed3a91717597012a80b2762a0352' in /home/www/html/pdnonline/includes/cache.inc on line 25.
  • user warning: Table './taijimen_wpn2010/eng_cache_filter' is marked as crashed and should be repaired query: UPDATE eng_cache_filter SET data = '<p>The British Supreme Court ruled on the 15th that the British government\'s program to send asylum seekers to Rwanda is illegal, a major blow to Prime Minister Rishi Sunak\'s immigration policy and key election promises. Britain is scheduled to hold a general election next year.</p>\n', created = 1740817724, expire = 1740904124, headers = '', serialized = 0 WHERE cid = '1:4c12ed3a91717597012a80b2762a0352' in /home/www/html/pdnonline/includes/cache.inc on line 108.
  • user warning: Table './taijimen_wpn2010/eng_cache_filter' is marked as crashed and should be repaired query: SELECT data, created, headers, expire, serialized FROM eng_cache_filter WHERE cid = '1:5445da4326b10bd0de32e3e70eb3a40e' in /home/www/html/pdnonline/includes/cache.inc on line 25.
  • user warning: Table './taijimen_wpn2010/eng_cache_filter' is marked as crashed and should be repaired query: UPDATE eng_cache_filter SET data = '<p><img src=\"/sites/en.worldpeoplenews.com/files/news/P1_20230728%E5%B0%88%E5%AE%B6%E8%A8%AA%E5%8F%B0_0_0.jpg\" width=\"300\" height=\"194\" alt=\"P1_20230728專家訪台_0_0.jpg\" the tai ji men known as is the human rights persecution case with the largest number of victims and the longest period of victimisation in taiwan since february incident in a delegation of human rights experts and scholars visited the national memorial museum and participated in the international human rights exchange /></p>\n', created = 1740817724, expire = 1740904124, headers = '', serialized = 0 WHERE cid = '1:5445da4326b10bd0de32e3e70eb3a40e' in /home/www/html/pdnonline/includes/cache.inc on line 108.
  • user warning: Table './taijimen_wpn2010/eng_cache_filter' is marked as crashed and should be repaired query: SELECT data, created, headers, expire, serialized FROM eng_cache_filter WHERE cid = '1:d26e5e4273c2501bde594bcbcf5a6594' in /home/www/html/pdnonline/includes/cache.inc on line 25.
  • user warning: Table './taijimen_wpn2010/eng_cache_filter' is marked as crashed and should be repaired query: UPDATE eng_cache_filter SET data = '<p>In the last 10 years, many countries have made significant progress to increase exclusive breastfeeding rates. Yet even greater progress is possible when breastfeeding is protected and supported, particularly in the workplace.</p>\n', created = 1740817724, expire = 1740904124, headers = '', serialized = 0 WHERE cid = '1:d26e5e4273c2501bde594bcbcf5a6594' in /home/www/html/pdnonline/includes/cache.inc on line 108.
  • user warning: Table './taijimen_wpn2010/eng_cache_filter' is marked as crashed and should be repaired query: SELECT data, created, headers, expire, serialized FROM eng_cache_filter WHERE cid = '1:23588efd9d9df69e58dbcb7c3464adaa' in /home/www/html/pdnonline/includes/cache.inc on line 25.
  • user warning: Table './taijimen_wpn2010/eng_cache_filter' is marked as crashed and should be repaired query: UPDATE eng_cache_filter SET data = '<p>The United States government’s failure to adequately regulate private nonprofit hospitals and to provide quality healthcare alternatives undermines access to health care, Human Rights Watch said in a report released on June 15, 2023.</p>\n', created = 1740817724, expire = 1740904124, headers = '', serialized = 0 WHERE cid = '1:23588efd9d9df69e58dbcb7c3464adaa' in /home/www/html/pdnonline/includes/cache.inc on line 108.
  • user warning: Table './taijimen_wpn2010/eng_cache_filter' is marked as crashed and should be repaired query: SELECT data, created, headers, expire, serialized FROM eng_cache_filter WHERE cid = '1:046bbbfa2baa00cd1d3b1966ecb354a8' in /home/www/html/pdnonline/includes/cache.inc on line 25.
  • user warning: Table './taijimen_wpn2010/eng_cache_filter' is marked as crashed and should be repaired query: UPDATE eng_cache_filter SET data = '<p>Islamist armed groups in Burkina Faso have killed scores of civilians, looted and burned property, and forced thousands to flee in attacks across the country since late 2022, Human Rights Watch said on June 15, 2023. The armed groups have also besieged several towns, cutting residents off from food, basic services, and humanitarian aid.</p>\n', created = 1740817724, expire = 1740904124, headers = '', serialized = 0 WHERE cid = '1:046bbbfa2baa00cd1d3b1966ecb354a8' in /home/www/html/pdnonline/includes/cache.inc on line 108.
  • user warning: Table './taijimen_wpn2010/eng_cache_filter' is marked as crashed and should be repaired query: SELECT data, created, headers, expire, serialized FROM eng_cache_filter WHERE cid = '1:ac771ee613456e6a3012dff0893b3bcb' in /home/www/html/pdnonline/includes/cache.inc on line 25.
  • user warning: Table './taijimen_wpn2010/eng_cache_filter' is marked as crashed and should be repaired query: UPDATE eng_cache_filter SET data = '<p>A “cascade of crises” is putting global progress towards ensuring the rights of persons with disabilities in danger, UN Secretary-General António Guterres warned on Tuesday in New York.</p>\n', created = 1740817724, expire = 1740904124, headers = '', serialized = 0 WHERE cid = '1:ac771ee613456e6a3012dff0893b3bcb' in /home/www/html/pdnonline/includes/cache.inc on line 108.
  • user warning: Table './taijimen_wpn2010/eng_cache_filter' is marked as crashed and should be repaired query: SELECT data, created, headers, expire, serialized FROM eng_cache_filter WHERE cid = '1:3ba985970d36eee5be801f0ac381d1f9' in /home/www/html/pdnonline/includes/cache.inc on line 25.
  • user warning: Table './taijimen_wpn2010/eng_cache_filter' is marked as crashed and should be repaired query: UPDATE eng_cache_filter SET data = '<p><img src=\"/sites/en.worldpeoplenews.com/files/news/image1170x530cropped%20%288%29_10_0_0.jpg\" width=\"300\" height=\"136\" alt=\"image1170x530cropped (8)_10_0_0.jpg\" /><br />\nChinsisi Jafali, a 14-year-old with albinism in Malawi.</p>\n', created = 1740817724, expire = 1740904124, headers = '', serialized = 0 WHERE cid = '1:3ba985970d36eee5be801f0ac381d1f9' in /home/www/html/pdnonline/includes/cache.inc on line 108.
  • user warning: Table './taijimen_wpn2010/eng_cache_filter' is marked as crashed and should be repaired query: SELECT data, created, headers, expire, serialized FROM eng_cache_filter WHERE cid = '1:395ce5a5fa84910abf18b52c9d64e4bc' in /home/www/html/pdnonline/includes/cache.inc on line 25.
  • user warning: Table './taijimen_wpn2010/eng_cache_filter' is marked as crashed and should be repaired query: UPDATE eng_cache_filter SET data = '<p>Uzbek authorities should ensure a fair appeals process for a student sentenced to three years in prison for sharing a link to an Islamic devotional song, Human Rights Watch said on June 14, 2023.</p>\n', created = 1740817724, expire = 1740904124, headers = '', serialized = 0 WHERE cid = '1:395ce5a5fa84910abf18b52c9d64e4bc' in /home/www/html/pdnonline/includes/cache.inc on line 108.
  • user warning: Table './taijimen_wpn2010/eng_cache_filter' is marked as crashed and should be repaired query: SELECT data, created, headers, expire, serialized FROM eng_cache_filter WHERE cid = '1:4ada5136db9a29cbb6ed6e7fbd8fc4ce' in /home/www/html/pdnonline/includes/cache.inc on line 25.
  • user warning: Table './taijimen_wpn2010/eng_cache_filter' is marked as crashed and should be repaired query: UPDATE eng_cache_filter SET data = '<p>India’s arbitrary internet shutdowns disproportionately hurt communities living with poverty that depend on the government’s social protection measures for food and livelihoods, Human Rights Watch and Internet Freedom Foundation said in a report released on June 13, 2023. Since 2018, India has shut down the internet more than any other country in the world, undermining the government’s flagship “Digital India” program, which has made regular internet access vital for delivering key public services.</p>\n', created = 1740817724, expire = 1740904124, headers = '', serialized = 0 WHERE cid = '1:4ada5136db9a29cbb6ed6e7fbd8fc4ce' in /home/www/html/pdnonline/includes/cache.inc on line 108.
  • user warning: Table './taijimen_wpn2010/eng_cache_filter' is marked as crashed and should be repaired query: SELECT data, created, headers, expire, serialized FROM eng_cache_filter WHERE cid = '3:de11f8a97bdc357d83f732195e7ba6c2' in /home/www/html/pdnonline/includes/cache.inc on line 25.
  • user warning: Table './taijimen_wpn2010/eng_cache_filter' is marked as crashed and should be repaired query: SELECT data, created, headers, expire, serialized FROM eng_cache_filter WHERE cid = '2:a5be901216e97bc0936ebb9eba6f91fb' in /home/www/html/pdnonline/includes/cache.inc on line 25.
  • user warning: Table './taijimen_wpn2010/eng_cache_filter' is marked as crashed and should be repaired query: UPDATE eng_cache_filter SET data = '<p><a href=\"http://en.worldpeoplenews.com/sites/en.worldpeoplenews.com/files/2024NobelPeacePrizeLaureates/index.html\"><br />\n<h4>\nRinging FOWPAL’s Peace Bell for the World:Nobel Peace Prize Laureates’ Visions and Actions</h4>\n<p></p></a><br />\n<img src=\"/sites/en.worldpeoplenews.com/files/2024NobelPeacePrizeLaureates/banner.jpg\" width=\"240\" height=\"160\" /></p>\n<p><a href=\"http://en.worldpeoplenews.com/sites/en.worldpeoplenews.com/files/2024WorldCultureDiversity/index.html\"><br />\n<h4>\nProtecting the World’s Cultural Diversity for a Sustainable Future</h4>\n<p></p></a><br />\n<img src=\"/sites/en.worldpeoplenews.com/files/2024WorldCultureDiversity/banner.jpg\" width=\"240\" height=\"160\" /></p>\n<p><a href=\"http://en.worldpeoplenews.com/sites/en.worldpeoplenews.com/files/2024icday/index.html\"><br />\n<h4>\nGlobal Celebration of International Day of Conscience: Dr. Hong, Tao-Tze Unites Participants from 63 Nations</h4>\n<p></p></a><br />\n<img src=\"/sites/en.worldpeoplenews.com/files/2024icday/banner.jpg\" width=\"240\" height=\"160\" /></p>\n<p><a href=\"http://en.worldpeoplenews.com/sites/en.worldpeoplenews.com/files/2024EurasianEconomicSummit/index.html\"><br />\n<h4>\nThe Peace Bell Resonates at the 27th Eurasian Economic Summit</h4>\n<p></p></a><br />\n<img src=\"/sites/en.worldpeoplenews.com/files/2024EurasianEconomicSummit/banner.jpg\" width=\"240\" height=\"160\" /></p>\n<p><a href=\"http://en.worldpeoplenews.com/sites/en.worldpeoplenews.com/files/worldday2024/index.html\"><br />\n<h4>\nDeclaration of World Day of the Power of Hope Endorsed by People in 158 Nations</h4>\n<p></p></a><br />\n<img src=\"/sites/en.worldpeoplenews.com/files/worldday2024/banner.jpg\" width=\"240\" height=\"160\" /></p>\n<p><a href=\"http://en.worldpeoplenews.com/sites/en.worldpeoplenews.com/files/PostAuthoritarianBureaucracy/index.html\"><br />\n<h4>\nPost-authoritarian Bureaucracy Violence :Unveiling Ceremony at the Injustice Site of the 1219 Incident</h4>\n<p></p></a><br />\n<img src=\"/sites/en.worldpeoplenews.com/files/PostAuthoritarianBureaucracy/PostAuthoritarianBureaucracy.jpg\" width=\"240\" height=\"160\" /></p>\n<p>Puppet Show I International Friendship Day 2020<br />\n<iframe width=\"280px\" height=\"210px\" src=\"https://www.youtube.com/embed/g864WXrLPmg\"></iframe></p>\n', created = 1740817724, expire = 1740904124, headers = '', serialized = 0 WHERE cid = '2:a5be901216e97bc0936ebb9eba6f91fb' in /home/www/html/pdnonline/includes/cache.inc on line 108.

IMF Executive Board Completes Fourth and Fifth Reviews of Serbia’s Stand-By Arrangement

Tags:
2016-09-01

● Authorities indicated their intention to continue treating the arrangement as precautionary

● Serbia’s economic recovery exceeded expectations

● Full implementation of program commitments is critical to strengthen the foundations for robust and inclusive growth

The Executive Board of the International Monetary Fund (IMF) on August 31, 2016 completed the combined fourth and fifth reviews of Serbia’s economic performance under the Stand-By Arrangement (SBA). The completion of the review will make available the cumulative amount of SDR 608.01 million (about €761.6 million). The Serbian authorities have indicated their intention to continue treating the arrangement as precautionary.

The Executive Board approved the 36-month, SDR 935.4 million (about €1.2 billion at the time of approval) SBA for Serbia on February 23, 2015.

Following the Executive Board’s decision, Mr. Tao Zhang, Deputy Managing Director and Acting Chair, issued the following statement:

“Serbia’s economic recovery has exceeded expectations, supported by efforts to strengthen public finances, advance structural reforms, and boost investment confidence. However, vulnerabilities remain, including from elevated public debt and lingering structural challenges in an uncertain external environment. Full implementation of program commitments is critical to strengthen the foundations for robust and inclusive growth, restore public debt sustainability, and rebuild policy buffers.

“The fiscal over-performance has continued in 2016, supported by strong revenue and tight control of current expenditures. The challenge is to sustain the fiscal adjustment to place the high public debt firmly on a downward path. The completion of the first phase of public sector rightsizing will help contain the public sector wage bill in 2016, and further optimization will be guided by in-depth functional analysis. While the execution of capital expenditure has improved this year, measures are needed to strengthen the project appraisal process, enhance feasibility studies and risk analysis, and establish a single pipeline of public investment projects for the budget.

“The cautiously accommodative monetary policy stance is appropriate in view of strong fiscal consolidation and low inflation. The central bank’s continued commitment to the inflation-targeting regime and exchange rate flexibility is welcome.

“Positive momentum in the financial sector reforms needs to be maintained by fully implementing the non-performing loans strategy. In addition, it is critical to implement the reform agenda of the state-owned financial institutions to reduce financial vulnerabilities and fiscal risks.

“Decisive implementation of the identified structural reforms is essential for reducing fiscal risks and supporting competitiveness and growth. While there has been good progress, full implementation of state-owned enterprise restructuring and resolution plans is needed to avoid further increase of fiscal risks and to achieve the program objectives.”

Source: International Monetary Fund

  • 276 reads