National Bank of Serbia participates in IMF International Monetary and Financial Committee meeting on energy supply shock risks and IMF quota review

Representatives of the National Bank of Serbia attended the International Monetary and Financial Committee (IMFC) meeting, which reviewed global economic developments and prospects and discussed global economic stabilisation amid conflict in the Middle East, trade barriers, rising debt and climate initiatives. The agenda focused on growth projections, risks to financial stability, energy security and job creation, and on reshaping international finance and economic policies under heightened international uncertainty. The discussions highlighted a large, asymmetric global supply-side shock linked to reduced oil and gas transport, which is pushing up energy prices, disrupting supply chains and weighing on confidence, contributing to lower global growth projections. Without this shock, growth projections would have been revised upwards, primarily due to strong investment in technology and artificial intelligence. Participants also underscored the need for global energy efficiency and diversification, and stressed that well-coordinated fiscal and monetary policy frameworks are important to limit fragmentation-related disruptions, support fiscal sustainability and keep inflation under control. The IMFC also discussed work on the International Monetary Fund’s general quota review, including principles intended to guide future discussions on quotas and governance, ahead of the IMF and World Bank annual meeting in Bangkok.