What have we promised the IMF?

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Photo: Beta

Based on the agreement with the International Monetary Fund (IMF), Serbia has promised to the financial institution numerous tenders, such as the tender for PKB, Petrohemija, MSK and Komercijalna Banka, and it committed itself to a possible increase in electricity prices and closing two mines in Resavica, reports the Politika daily.

The IMF has approved to Serbia a new arrangement, called “a guardian”, and for a period of 30 months, Serbia has committed itself to a number of concrete goals, which are time-limited.

Thus, Serbia pledged to privatize PKB, and the final deadline for calling a tender for this company is July this year. The recently launched receivership of Azotara was also a condition for the Board of Directors of the IMF to approve a new arrangement to Serbia.

This document further states that by the end of August, in cooperation with the World Bank, an analysis of possible electricity price increase will be carried out, and when it comes to Elektroprivreda Srbije, it is expected that this company will change its status into a joint stock company by 2020.

The arrangement stipulates that the decision to privatize Komercijalna Banka must be made by the end of February 2019, and a tender for privatization will be announced in June 2019.

Source: Politika, Beta

Photo: Beta