Tabakovic attends IMFC meeting

WASHINGTON - National Bank of Serbia (NBS) Governor Jorgovanka Tabakovic, who is also Serbia’s Governor to the IMF, attended a meeting of the International Monetary and Financial Committee (IMFC) on Friday.

The meeting of the IMF advisory body was held in Washington as part of the current IMF/World Bank Group Spring Meetings.

"The focus of the meeting was on the latest economic trends and prospects, with special emphasis on urgent issues faced by the global economy, such as achieving full recovery, addressing vulnerabilities stemming from low-income countries’ debt and tackling new challenges," the NBS said in a statement.

"It was pointed out that the global environment has become more challenging due to geopolitical tensions and that the risks of fragmentation of the world economy are increasing. The importance of making the right policy choices was emphasized, as it is these choices that will largely define the future of the world economy.

Among the most important priorities are the restoration of price stability, the strengthening of fiscal buffers and policies to encourage economic growth.

Macroeconomic and financial stability play a key role in supporting economic recovery, while factors such as the climate and digital transition contribute to securing growth in the medium term.

Enhanced multilateral cooperation is particularly important for successfully addressing the ongoing challenges and finding appropriate solutions.

In a rapidly changing and increasingly turbulent world, working together on choosing good policies – policies that will address challenges and create opportunities to deliver growth, jobs and prosperity people aspire to everywhere - is more important than ever," it also said.

"We in Serbia continue to work on strengthening the foundations of growth, and thus of the sources of new jobs and higher living standards. We also continue to build our buffers, even amidst these globally challenging circumstances, and to promote regional cooperation", Tabakovic said.