Republic of Serbia: Selected Issues

IMF Staff Country Reports, February 5, 2008

Source details

Canonical URL

Republic of Serbia: Selected Issues

Other formats

• Markdown version
• Structured JSON version
• Bundle manifest

Bibliographic details

• Published: February 5, 2008
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781451834901.002

Overview

• High capital inflows and rising vulnerabilities underscore the importance of a comprehensive approach to ensuring stability.
• Standard balance sheet indicators mask a substantial build-up of exposures to exchange rate, maturity, and rollover risks.
• The fiscal balance has a strong and significant impact on the current account in Serbia.
• The model is broadly able to reproduce recent economic and policy developments in Serbia.
• The analysis indicates that privatization can result in sizable fiscal savings.

Balance sheet vulnerabilities

• Standard balance sheet indicators understate risks by concealing a substantial build-up of:
  • Exchange rate risk exposures.
  • Maturity risk exposures.
  • Rollover risk exposures.

Household sector risks

• Household balance sheet risks originate from currency mismatches owing to credit euroization.

Fiscal–current account relationship

• The fiscal balance has a strong and significant impact on the current account in Serbia.

Model assessment and policy-relevant findings

• The model used in the analysis is broadly able to reproduce recent economic and policy developments in Serbia.
• The analysis indicates that privatization can result in sizable fiscal savings.

Source: Republic of Serbia: Selected Issues (IMF Staff Country Report, February 5, 2008).

Content in this bundle

• Republic of Serbia: Selected Issues; IMF Country Report 08/55; January 14, 2008.
  • Republic of Serbia: Selected Issues; IMF Country Report 08/55; January 14, 2008. (Markdown version)
  • Republic of Serbia: Selected Issues; IMF Country Report 08/55; January 14, 2008. (PDF)