In late September, the Serbian government and the International Monetary Fund could sign a deal as a precaution worth EUR one billion, head of the IMF Mission to Serbia Albert Jaeger told the Ekonom: east magazine.

He said that details are still being negotiated, but that the arrangement would probably last a year and a half and that the money will be available to the Serbian authorities, especially the National Bank of Serbia, in late September.

The money will be used only in case of deteriorating economic situation, or if some of the risks that have been envisaged by the IMF materialize, he said.

The essence of the arrangement will be that if risks materialize, the government can withdraw the money. It will be a security mechanism, he said.

Roughly speaking, the idea is to cover next year's budget and the 2013 budget , which means it will cover about a year and a half, Jaeger said in an interview for the new Ekonom: east issue to be released on Thursday, June 2.