Nikola Jovanovic (Beta/Milan Obradovic)
Nikola Jovanovic, the director of the Center for Local Self-Government, said on July 8 that the International Monetary Fund (IMF) will offer its final opinion on the City of Belgrade’s public finances by early September.
According to him, the IMF will first review the report compiled by the independent external auditor, which should be completed in August.
“The key issues in the eyes of the IMF are Belgrade’s debts to public utility companies, the amounts owed to private transporters and the suppliers of [public transit company] GSP Belgrade, the waiving of ticket fees [for public transit], as well as corruption,” Jovanovic said in his press release.
The NGO head also speculated on possible IMF solutions, including a ban on any further borrowing, an urgent budget revision in September or, most drastically, introducing compulsory administration in the Serbian capital.
The IMF singled out Belgrade’s public finances as one Serbia’s fiscal risks in mid-June, while concluding its third review under the Policy Coordination Instrument for the Republic of Serbia, a non-financial agreement that serves as formal endorsement of the country’s economic policies.
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