Serbia
The International Monetary Fund has agreed a further loan package with the Serbian government. The IMF has made it clear that it expects the government to restrict public spending and specifically mentioned limited growth for pensions and pay as well as rationalization of employment.
Read more at > SETimes website (EN)
The Romanian government has signed a loan agreement with the International Monetary Fund and European Union that will mean substantial cuts in public spending, cuts in public sector jobs and a freeze on pay. Our regional officer in Romania reports that the IMF has asked the Romanian government to freeze the public sector pay bill and allocate the additional income exclusively to investments. Over the next four years, the pay bill, which has more than doubled in the last three years, must be gradually reduced from 8% to 5% of GDP. The IMF requires that the cut in the pay bill is proportional to
An 18-month pay freeze is just one element in a package of measures that the government is planning to implement to secure loans from the International Monetary Fund (IMF). Public sector unions have called for an increase in the minimum wage for state sector workers and for cuts in non-employment costs in public administration. Read more at > Reuters (EN) And at > SETimes (EN)
