This web page presents information about the work of the IMF in Serbia, including the activities of the IMF Resident Representative Office. Additional information can be found on the Serbia and IMF country page, including IMF reports and Executive Board documents that deal with Serbia.
IMF’s Work on Serbia
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Republic of Serbia: Selected Issues
July 10, 2025
Series:Country Report No. 2025/177
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July 10, 2025
Series:Country Report No. 2025/176
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June 11, 2025
An International Monetary Fund (IMF) mission, led by Ms. Annette Kyobe, visited Belgrade during May 28–June 11, 2025, to discuss economic and structural policies in the context of the first review of the Policy Coordination Instrument (PCI) and the 2025 Article IV consultation
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December 12, 2024
Series:Country Report No. 2024/337
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December 9, 2024
The Executive Board of the International Monetary Fund (IMF) approved a 36-month Policy Coordination Instrument (PCI) with the Republic of Serbia, following the conclusion of the fourth and final review under the SDR 1.89 billion (approximately EUR 2.4 billion) Stand-By Arrangement (SBA) approved by the IMF’s Board on December 19, 2022. While completion of the SBA review authorized additional access to SDR 316.47 million (about EUR 400 million), the authorities continued to treat the SBA as precautionary and did not make the available purchases. They cancelled the SBA following the completion of its final review, ahead of its expiration on December 18, 2024, to facilitate the transition to the PCI.
Regional Economic Outlook
April 25, 2025
The global economy is undergoing substantial changes, driven by fundamental shifts in trade policies. This comes at a time of deep structural transformations related to aging populations, high energy costs, and technological change. Europe’s economy is affected by these developments as it has only now begun to recover from recent shocks, its public spending needs are rising, public debt is high, and medium-term growth prospects are weak. The April 2025 outlook presents a downgrade in growth rates for the region, alongside a faster approach of inflation to targets. Risks to the outlook are to the downside and relate to a worsening of trade disputes and uncertainty. To navigate these turbulent times, Europe must prioritize the preservation of openness, manage the impact of policy shocks and market volatility through balanced macroeconomic policies, and complete its single market while addressing national growth reforms. The potential benefits of these actions could be substantial.Read the Report