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Belgrade To Seek New Credit From IMF

Finance Minister Mladjan Dinkic
Serbia's Finance Minister Mladjan Dinkic said on August 2 his country will seek to negotiate new credit from the International Monetary Fund (IMF) instead of trying to revive an arrangement suspended last year.

The IMF in February suspended a standby credit to Serbia, saying the previous government in Belgrade failed to cut spending to agreed limits.

A new coalition government took office last week.

Dinkic said Belgrade has already invited the IMF to open talks on a new credit.

The minister told reporters he has a "clear plan" to address the country's financial problems, including its unprecedentedly high budget deficit that currently stands at some $2.6 billion.

He said the new plan will be unveiled by the end of September.
With reporting by RFE/RL's Balkan Service and dpa