Serbia Taps IMF Aid

A USD516 million International Monetary Fund standby loan will be made available to Serbia to help the country amid global financial shocks. “The (15-month) standby deal will allow Serbia to secure its foreign currency liquidity,” Milan Kovacevic, a Belgrade-based economist with the Economic Institute, said. The IMF board is expected to approve the loan by the end of November. (“Serbia Secures USD516 Million IMF Standby Arrangement (Update3)” - Bloomberg, Nov. 14, 2008)

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