An International Monetary Fund (IMF) mission, which has been in Serbia since May 17, is set to continue Friday the negotiations with the Serbian authorities regarding a new, precautionary arrangement.

The talks began Wednesday with a plenary session at the National Bank of Serbia, followed by a meeting with Prime Minister and Minister of Finance Mirko Cvetkovic at the government headquarters.

According to the statements after the meeting, Serbia will continue its cooperation with the IMF by signing a precautionary arrangement, which will be defined during the visit.

Deputy Prime Minister Jovan Krkobabic and head of the IMF delegation Albert Jaeger met Thursday and agreed that the system of pension and disability insurance needed constant upgrading. The reform of the pension system was completed successfully within the previous arrangement, the two noted.