May 18, 2018 / 11:04 AM / 10 months ago

IMF delays new deal with Serbia until it names new finance minister

BELGRADE, May 18 (Reuters) - The International Monetary Fund and Serbia have postponed a staff-level agreement over a new non-financial deal with Belgrade until it appoints a new finance minister, the lender said in a statement on Friday.

Serbian Prime Minister Ana Brnabic took over the post of finance minister earlier this week until a new person is named to follow Dusan Vujovic, who quit this month citing personal reasons.

“We have reached agreement on key policy elements of the new program, and intend to return shortly to finalize the discussions, once the new Finance Minister has taken office,” the IMF said in a statement.

The new agreement will be supported by a Policy Coordination Instrument, an IMF-written non-financing arrangement to provide policy advice and monitoring.

In 2014 Serbia and the IMF negotiated a 1.2 billion euro ($1.4 billion) three-year loan deal with the IMF, which ended in February. Belgrade did not draw on funds. (Reporting by Aleksandar Vasovic Editing by Hugh Lawson)

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