Serbian Prime Minister stated on Friday that Serbia's current stand-by credit arrangement with the International Monetary Fund (IMF), worth around EUR 3 billion, should be brought to an end within the envisaged deadline, that is by the beginning of April, after which a new arrangement should be made 'out of precaution.'

“I believe that the stand-by arrangement should not be extended because so far, we have not withdrawn all funds available to us. Therefore, there is no need to extend the current or close a new stand-by arrangement. Still, I think that it would be good for Serbia to close another arrangement with the IMF after this one expires, purely out of precaution,” Cvetkovic said in an interview for the internet portal of Ekonom:east magazine.

The prime minister pointed out that this way, the country would still have an ongoing arrangement with the IMF, which would enable the Serbian government to win IMF's support for the country's economic policy.

“The IMF has a good international reputation, and by closing a new arrangement with it out of precaution, Serbia and its economic policy would earn additional credibility, which is also a very important factor for attracting necessary foreign investments,” Cvetkovic concluded.