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Posts Tagged ‘IMF’

IMF expects Serbia’s GDP to grow 3%

Serbia will record an economic growth of three percent in 2011, according to the latest forecasts of the International Monetary Fund (IMF). Last year, the GDP growth was at 1.5 percent.

IMF: Serbian economy recovering

Serbia’s economic recovery based on export has gained momentum, the International Monetary Fund (IMF) says.

The IMF added, however, that increased inflation and external funding represented risks to macroeconomic stability.

7th revision of IMF arrangement in February

International Monetary Fund (IMF) Resident Representative in Serbia Bogdan Lissovolik said that talks on Serbia’s stand-by arrangement would begin in February.

“We will discuss the macroeconomic elements of the program, including fiscal objectives. After the program expires, around the middle of April, we expect to continue cooperation with Serbia in the form of post-program monitoring, or continue the arrangement if Serbian authorities want to do so,” Lissovolik told daily Politika.

Serbia’s cooperation with IMF successful

Serbia’s cooperation with the International Monetary Fund (IMF) and the World Bank (WB) has been very successful this year.

“The IMF Board allowed this week Serbia to take out EUR 373mn for the strengthening of the country’s foreign exchange reserves, since it has made a positive assessment regarding the sixth revision of the stand-by credit arrangement with Serbia,” Serbian Representative with the WB Biljana Chroneos-Krasavac said.

ISI chief wonÂ’t face US court


ISLAMABAD – Terming the issuance of summons to the ISI chief by a US court sensitive matter, Prime Minister Syed Yousuf Raza Gilani on Thursday said that the decision pertaining to it would be taken after mutual consultation.
Responding to remarks of Opposition Leader in the National Assembly, Ch Nisar Ali Khan, Premier Gilani said, “I will not give any statement on this issue today. It’s a sensitive matter. No one can send the ISI official to the US court if ISI itself is not willing to go.” The Government is as sensitive to the issue as the other political leadership of the country are, he added.
Talking about the law and order situation in Balochistan and the handling of Shah Zain Bugti by the security agencies, the Prime Minister said that the security agencies should not go beyond their limits and he assured the House that he would talk to Interior Minister Rehman Malik who would take the House into confidence on the issue. However, he added that the matter was a provincial subject.
The Prime Minister said the foreign elements were interfering in Balochistan and the Parliament would have to collectively draw a strategy to handle it. He also assured the House that the Government would take the House into confidence on the summons issued to ISI and Balochistan issues.
The Premier also responded to JUI chief Maulana Fazlur RehamÂ’s remarks, who earlier on the floor of the House alleged that the Government was working on USÂ’ dictations and opposed the military operation in the North Waziristan.
Syed Yousuf Raza Gilani brushed aside the allegations and said that the decision to launch operation would be taken after the consultations with the political leadership of the country. “The economy of any country is based on law and order. Our agenda is to improve economy and law and order. There is no international pressure on the Government. It’s our own problem,” Gilani said.
Talking about the operation in North Waziristan, he said that nobody could dictate the Government. People of Pakistan would decide that where and when the operation should be launched, he added.
Opposition Leader Nisar Ali Khan on the floor of the House said that the Foreign Ministry should strictly respond to the news item regarding summons issued to the ISI official. “We will not let any Pakistani institution to become a slave of any international institution. It’s a political decision of US court to pressurise Pakistan”, the Opposition Leader said. He added that the way security agencies arrested and handled Shah Zain Bugti was condemnable and they should work within their limits.
He also came hard on the Government on the presence of CIA chief in Pakistan. Nisar said that Pakistan was not a Banana Republic and no spy of any country was allowed to carry out activities in any other country. He asked the Government to tell the nation whether or not there was an agreement allowing the US to carry out such activities, adding that if there is such agreement then ISI should also be allowed to carry out operations in the US. He said that the US Government should itself oppose the decision of its court.
Earlier, JUI chief Maulana Fazlur Rehman flayed the Prime Minister on the removal of Azam Swati from the Cabinet and said that the Premier should first consult him before taking any step against Swati.
“Swati was not a member of PPP. If it is a constitutional right of the Prime Minister that he can remove somebody on the ground of poor discipline then it was also a part of discipline that he should have first consulted me. We can be friends of the Prime Minster but we cannot be the peasants of Premier Gilani,” Fazal said.
He added that when Muhammad Khan Junejo removed Yousuf Raza Gilani from his Cabinet, he on the very next day called Benazir Bhutto and joined PPP.
He said, “We had cautioned the Government that if it did not go for Islamic legislations, JUI-F would quit the Government but at that time the Government assured us that the agreement would be implemented but it did nothing in this regard. Swati’s removal became an cause for leaving the treasury benches,” the JUI-F chief revealed.
Elaborating the situation in Pakistan, he said that the US was pressurising Pakistan for launching operations in North Waziristan and IMF was also putting pressure to bring so-called economic reforms. He added that the Government was working on the US’ dictations while the Parliament was carrying out legislating under the international pressure. He also came hard on Iranian President Ahmadinejad and said that he was an “inspector” of the region as he called President Zardari to hand “his terrorists” over to him. He also warned the US that if it tried to attack North Waziristan it would have to face more bitter consequences than it faced in Afghanistan.
Talking about the military operation in Swat and Malakand Division, he said that the Army was still handling the affairs of these areas and the Government had failed to hand over administration of these areas back to the civil authorities, adding that the provincial Government could not even transfer a policeman.
“Obtaining the rights through gun is not right but what the people will do when the democratic institutions would not provide justice to them in accordance with Sharia. We are also criminal that we cannot give them justice in accordance with Islam. I am not a threat to democracy but you are a thereat to Islam,” he added.
Highlighting the achievements of Kashmir Committee of the National Assembly, he said that the Government had fully changed the Kashmir policy but it was the Kashmir Committee, which restored the old policy and it was the efforts of the Committee that after a long time the Foreign Minister could discuss Kashmir issue in United Nations.
“We were informed just a month before Obama’s visit to India and his announcement to support India for the permanent membership of UN Security Council. We immediately started meetings with diplomats to make them understood that India never respected the decisions of the Security Council and it could not become its permanent member. Finally, Obama had to announce that he wished India to become UNSC permanent member rather than announcing his support to India,” Maulana Fazlur Rehman told the House.

IMF approves new review of deal

The Executive Board of the International Monetary Fund (IMF) completed on Wednesday the sixth review of the standby deal with Serbia. It enables which enables the immediate disbursement of EUR 373 million, the IMF released.

“Serbia fulfilled all IMF obligations”

The Serbian government fulfilled the conditions that were set out for the granting of the sixth revision of the arrangement with the IMF. This is according to IMF Permanent Representative in Serbia Bogdan Lissovolik, who explained that this happened when the Law on 2011 Budget and amendments to Law on Pension and Disability Insurance was sent to parliament.

Daily: No aid for Kosovo due to IMF deal violation

Kosovo will lose EUR 20mn of the European Union aid for its non-compliance with an agreement PriÅ¡tina has with the IMF, say reports. Albanian language daily Koha Ditore writes today that the withdrawal of aid also comes due to “big pre-election promises”.

IMF: Agreement reached with Serbia

International Monetary Fund (IMF) confirmed on Friday that representatives of Serbian authorities and the IMF Serbia team have reached an agreement.

The agreement includes activities that need to be carried out in order to complete the sixth revision of the stand-by arrangement.

Govt., IMF to “harmonize pension law”

Agreement has been reached with the IMF on the sixth revision of stand-by arrangement, but changes to the draft pension law still need to be made.

Changes to the draft Law on Pensions and Disability Insurance should be specified before the meeting of the IMF’s Board of Directors on December 22.

Government, IMF agree on review

The Serbian government and the IMF have reached agreement on the 6th review of the current stand-by arrangement, worth a total of EUR 2.9bn. The agreement on the latest review is expected to be approved during a government session in Belgrade this Thursday, and the news was also confirmed by President Boris Tadić, who is visiting Croatia.

Budget revision agreement with IMF

The government and the IMF have agreed on a revision of Serbia’s current budget, says Finance Minister Diana Dragutinović.
However, the issues of pensions and the state budget for 2011 remain open, she said in Belgrade on Tuesday.

IMF, govt. can’t agree on 2011 budget

The main stumbling block in negotiations with the International Monetary Fund (IMF) was next year’s budget.

Economists believe that the problem arose due to increased demands of the government for pre-election 2011.

IMF: No changes to draft pension law

The Serbian government and the IMF have agreed to send the draft law on pensions and disability insurance to MPs “without any essential changes”. The International Monetary Fund (IMF) mission and Serbian officials have agreed to continue the dialogue with a view to reaching an agreement soon on completing the 6th review of the stand-by arrangement, the IMF mission said in a statement Friday.

IMF mission leaves without agreement

A mission of the IMF, which arrived here two weeks ago, is leaving today without reaching an agreement on a new revision of the stand-by with the government. The IMF said that an official statement will be issued later, explaining why there was no success in the talks on the sixth revision of the loan, worth a total of EUR 2.9bn.

IMF mission leaves without agreement

A mission of the IMF, which arrived here two weeks ago, is leaving today without reaching an agreement on a new review of the stand-by with the government. The IMF said that an official statement will be issued later, explaining why there was no success in the talks on the sixth review of the loan, worth a total of EUR 2.9bn.

IMF, public companies meet in Belgrade

The talks between the IMF delegation and the Serbian government on the sixth review under the stand-by arrangement continue today. The meetings continue on a technical expert level, with representatives of Serbia’s public companies.

IMF, Serbian govt. in plenary session

The representatives of the Serbian government IMF will hold a plenary session at the National Bank of Serbia (NBS) in Belgrade on Monday. The sixth revision of the stand-by arrangement will be on their agenda, which will mark the beginning of official talks between the IMF and Serbia.

IMF mission in Belgrade on Thursday

The International Monetary Fund (IMF) Mission will arrive in Belgrade on Thursday, it has been announced. They will immediately begin technical talks with the Serbian government on the sixth revision of the stand-by arrangement between the IMF and Serbia, IMF Resident Representative in Serbia Bogdan Lissovolik has stated for Tanjug.

Drone attacks, CSF arrears top agenda


ISLAMABAD – Troika on Saturday discussed the forthcoming Pak-US Strategic dialogue, to be held in Washington next week, in the light of the growing American pressure on Pakistan to go for a hot pursuit against the militants in North Waziristan.
It also discussed the military and financial assistance direly needed by Pak Army to effectively continue its operations against militants.
President Asif Ali Zardari, Prime Minister Syed Yousuf Raza Gilani and Chief of Army Staff Ashfaq Parvez Kayani were also briefed by Foreign Minister Shah Mehmood Qureshi on his recent visit to Brussels where he had attended the Friends of Democratic Pakistan meeting. Meanwhile, the Finance Minister briefed the meeting on his recent visit to America and his meetings with the officials of World Bank, IMF and US officials.
Defence Minister Chaudhry Ahmed Mukhtar, Foreign Secretary Salman Bashir and the Finance Secretary Salman Siddique also attended the meeting.
Sources privy to the deliberations informed TheNation that though the meeting was purely about the upcoming Pak-US Strategic Dialogue, to be held in Washington from October 22, the standoff between the superior judiciary and Government did figure in the meeting. It was the consensus view that at this critical juncture, the country could not afford any adventurism on part of any department and it was stressed that all the state organs must work within their defined constitutional ambit, they added.
The political leadership had also expressed their resolve to respect the apex judiciary and would comply with its orders in true letter and spirit as repeatedly said by the Prime Minister Syed Yousuf Raza Gilani in the recent past.
Sources privy to the deliberations of the meeting, which continued till late in the evening, said that it was the consensus view of the political and military leadership that Pakistan would continue operation against militants but would not take any pressure from any quarter for launching operation in some particular area.
It was further decided that the Government would continue operation against militants keeping in view the ground realities and its capacity to handle the operation in certain area. It would try to convince United States and other partners in the war on terror that they would define the scope and strategy of the hot pursuit against militants keeping in view the ground reality and the potential of the Armed Forces.
It was further agreed in the meeting that Pakistani side would press the United States to help Pakistan Army manage its military and other needs and would, once again, take up the issue of drone technology transfer so that it could launch operation against militants on its own. With the transfer of technology the Pakistan Army would launch operation against the militants in the troubled areas and the criticism on Pakistan due to drone attacks by US would also ease down, sources added.
Meanwhile, in a media brief, Spokesperson to the President, former senator Farhatullah Babar said that the meeting was held to deliberate upon the forthcoming Pak-US Strategic Dialogue.
He said that the last round of Pak-US Strategic Dialogue was held in Islamabad in July last to intensify strategic engagement and pursue comprehensive sectoral cooperation under the framework of strategic dialogue process. It may be recalled that various areas of mutual cooperation that included security, defence, socio-economic projects, enhancement of power generation capacity and infrastructure were thoroughly deliberated during the sectoral meetings in the last round of the Dialogue.
The Spokesperson said that the democratic Government wanted to pursue multifaceted comprehensive cooperation between the two countries while at the same time address issues like drone attacks, reimbursement of Coalition Support Fund arrears and RoZ legislation. He said that the challenges being faced by the two countries vis-a-vis the security situation would also come under discussion. The two states would also discuss measures to further promote the intelligence sharing mechanism and the capacity enhancement of the security forces.
The President has all along maintained that Pakistan had suffered a colossal loss, both in human and the material losses, due to the ongoing fight against militancy and the recent devastating floods had further added to the economic woes.
He said that the situation demanded of the international community especially the US to support Pakistan and advocate its case for having greater access to its products in the international markets.
The President said that he had been urging upon US visitors to use their influence in expediting ROZs legislation and for helping Pakistan in creating new vistas of opportunities for the affected people.
The President expressed hope that discussions during the forthcoming dialogue would be productive and help carry forward the progress made so far in the mutually agreed areas of cooperation and where Pakistan needed more help from the United States.