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Serbia To Get $1.44B IMF Loan
The International Monetary Fund has agreed to provide a $1.44 billion standby loan to Serbia.
The International Monetary Fund (IMF) has agreed to provide a $1.44 billion standby loan to Serbia, Reuters reports. The IMF will also revise the country’s growth forecast to 2 percent from 3 percent in this year.
Its budget deficit will be 4.5 percent of gross domestic product instead of the initially planned 4.25 percent in 2011, adds Bloomberg. Serbia will still have to reduce spending another $210 million to $284 million to be part of the new deficit plan.
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