Serbia's Deputy Prime Minister Jovan Krkobabic and head of the International Monetary Fund (IMF) mission Albert Jaeger assessed Thursday that the pension and disability insurance system needs to be constantly improved and new and better solutions sought.

They assessed that the reform of the pension system was successfully implemented during the previous arrangement with the IMF.

In the meeting, Krkobabic focused on control mechanisms, consistent monetary policy and fiscal discipline.

The joint conclusion was that the next arrangement with the IMF, if it is signed, must cover the reform of all parts of the public sector equally, from state-owned companies to heath care, education and pensions, and these reforms must be in line with European standards.

Krkobabic stressed that Serbia has adhered fully to the agreed principles of reform in the pension system.

The reform of the pension system is part of a comprehensive structural reform in Serbia, which is necessary for the country as a whole to operate more efficiently, it is said in a statement released by the deputy prime minister's office.

The IMF mission started official talks in Belgrade on Wednesday with a plenary meeting at the National Bank of Serbia, which was followed by a meeting with Prime Minister Mirko Cvetkovic, after which it was announced that Serbia will continue cooperation with the IMF by concluding a precautionary agreement, whose framework will be drawn up during the IMF delegation's visit.