Posted on 09/15/2009 5:54:25 AM PDT by NativeNewYorker
BELGRADE, Serbia – Serbia will have to lay off about one-fifth of its government employees — 14,000 people — to meet conditions set by the International Monetary Fund to receive more financial aid, the country's finance minister said Monday.
Finance Minister Diana Dragutinovic said Serbia aims to cut spending before the government resumes its talks with the IMF on Oct. 20.
The IMF has postponed giving the Balkan country access to additional funds from a euro2.8 billion ($4 billion) standby loan granted in March, demanding details on how Serbia plans to finance its growing budget deficit amid the global financial crisis.
The IMF had proposed an increase in Serbia's value-added tax — currently 18 percent on all goods and services — to cover the country's burgeoning budget gap. Instead, Serbian officials have chosen to make the savings by cutting down on state administration.
The officials said they plan a radical overhaul of the public sector, including state administration, education, health and pension systems.
(Excerpt) Read more at news.yahoo.com ...
Can we get that plan here?
Can we petition the IMF to do that for us right after the country declares bankruptcy?
The IMF had suggested higher taxes...
OH—START WITH THE USA. Bloated govt beyond total belief.
SOP for the IMF. They’ve been doing this to Africa and South American countries for years. Yeah, we’ll give you a loan, for the future bankrupting of your country !
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