On October 18, 2006, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with the Republic of Serbia—the first Article IV consultation for Serbia alone following the dissolution of the former state union of “Serbia and Montenegro” in June.15
Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board. At the conclusion of the discussion, the Managing Director, as Chairman of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities.