Serbia and Montenegro: Fourth Review Under the Extended Arrangement (EA), Financing Assurances Review, Request for Waivers, and Modification of an end-December 2004 Performance Criterion

Author: International Monetary Fund

Volume/Issue: Volume 2005 Issue 013

Publication date: January 2005

ISBN: 9781451833553

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Exports and Imports , Labor , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , prefix , lending , fiscal policy , credit growth , staff appraisal , consumer lending , expenditure side , widening current account deficit , Privatization , Wages , Eastern Europe , Global

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Grenada

Republic of Congo : 2001 Article IV

Summary

The Fourth Review Under the Extended Arrangement, Financing Assurances Review, and Request for Waiver of Performance Criteria for Serbia and Montenegro are discussed. The agreed tighter fiscal, monetary, and incomes policies should cool off wage and credit growth, which are driving the demand for imports. The bold resumption of structural reforms should over time help increase exports, which remain exceptionally low in reference to GDP. The fragile political situation could affect the ability of the reformist minority government to press ahead with bold reforms.