IMF: Serbia´s Reforms are Not Sufficient

Politics ♦ Published: October 10, 2013; 17:26 ♦ (Vindobona)

On the occasion of a visit in Serbia, the IMF commented the efforts of the Serbian government to cut the budget gap. The austerity cuts are right, but the country needs further reforms, IMF´s team said.

IMF: Serbia´s Reforms are Not Sufficient / Picture: © Flickr

As reported by Vindobona, Serbia´s government decided to implement painful reforms. The underlying reason for the radical austerity cuts is Serbia´s dramatic fiscal situation.

At the beginning of this week, the government of the Balkan nation warned of a national bankruptcy. At the moment, the country has only very limited access to bond markets. However, the financial…