Serbia’s deputy prime minister says his country will seek a $1.4 billion (euro1-billion) precautionary loan from the International Monetary Fund, The Associated Press reports.
Bozidar Djelic said Thursday the 18-month standby loan would be a guarantee to foreign investors that Serbia is pursuing the right economic policies through the global financial crisis.
An IMF delegation arrived in Belgrade on Thursday for two-week negotiations on the new deal.
Serbia’s euro3 billion two-year bailout loan with the IMF expired in April. It withdrew about half of that sum to help preserve financial stability as it faced high unemployment and inflation.
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