IMF Leaves Serbia Without Agreement on Loan Payments
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An International Monetary Fund mission said it will leave Belgrade today without an agreement on disbursement of the next tranche of Serbia’s bailout loan as the government works to meet fiscal targets for next year.
Talks will continue on the efforts by Prime Minister Mirko Cvetkovic’s administration to narrow the budget deficit to 4 percent of gross domestic product in 2011 from 4.8 percent this year, mission chief Albert Jaeger said in an interview. The target must be met to secure the next installment of Serbia’s 3 billion-euro ($4.3 billion) emergency loan package.