Serbia Seeks €1B Loan From IMF

Serbia is seeking an 18-month precautionary loan from theInternational Monetary Fund(IMF) worth nearly €1 billion,Bloombergreports. The credit facility may be twice the country’s quota with the Belgrade-based central bank.

The IMF’s mission will focus on Serbia’s fiscal policy for the rest of 2011 and 2012 with the objective of keeping the budget deficit in line with self-imposed regulations. The lender’s board is expected to endorse the new program by the end of September, if the agreement is reached.

Click here for the story fromBloomberg.