Serbia and the International Monetary Fund (IMF) will continue their cooperation by signing a new precautionary arrangement, whose framework will be harmonized during the IMF delegation's visit to Belgrade, it was released after a meeting of Serbian Prime Minister Mirko Cvetkovic with the IMF delegation headed by Albert Jaeger.

According to a release issued by the government press office, Cvetkovic informed the IMF representatives about the current economic situation in Serbia.

The meeting focused on measures the government will take in the coming period to maintain macroeconomic stability, reads the release.

Official talks between representatives of the Serbian government and the IMF mission started at 9 a.m. Wednesday with a plenary meeting at the National Bank of Serbia (NBS).

The plenary session included NBS Governor Dejan Soskic, who is Serbia's representative to the IMF, deputy prime ministers Bozidar Djelic and Jovan Krkobabic, Minister of Economy and Regional Development Nebojsa Ciric, and President of the NBS Governor's Council Bosko Zivkovic.

The mission will stay in Belgrade until May 27.

Serbian officials and the IMF mission will discuss current macroeconomic trends, areas where further reforms will need to be conducted under the new arrangement, as well as fiscal policy.

As far as structural reforms, the focus will be on government-owned companies, and the heath care, education and pension systems.

During the mission's visit, preliminary talks will also start on Serbia's new precautionary arrangement.