The International Monetary Fund (IMF) has expressed its satisfaction with the restructuring of Serbia’s railway operator Zeleznice Srbije, Serbian infrastructure minister Zorana Mihajlovic announced. Zeleznice Srbije’s reform is an example of how the restructuring of a state-owned company should be carried out, as the government has eliminated the loss-making railway lines and has attracted investments of 4 billion euros, Zorana Mihajlovic said.
“The restructuring of state-owned companies does not envisage only the reduction of workforce, but also an effort to be efficient in every area,” the minister explained after a meeting with the head of the IMF mission to Belgrade, James Roaf.
The Serbian government completed in August 2015 the unbundling of Zeleznice Srbije into a holding company with three subsidiaries under the terms of a Stand-By Agreement with the International Monetary Fund signed in February 2015.
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