International organization participation:
ABEDA, BIS, BSEC, CE, CEI, EBRD, FAO, G-9, IAEA, IBRD, ICAO, ICC,
ICCt, ICFTU, ICRM, IDA, IFAD (suspended), IFC, IFRCS, IHO, ILO, IMF,
IMO, Interpol, IOC, IOM, IPU, ISO, ITU, MIGA, MONUC, NAM, OAS
(observer), OIF (observer), OPCW, OSCE, PCA, SECI, UN, UNCTAD,
UNESCO, UNHCR, UNIDO, UNMIL, UNOCI, UPU, WCL, WCO, WHO, WIPO, WMO,
WToO, WTO (observer)
Diplomatic representation in the US: chief of mission: Ambassador Ivan VUJACIC chancery: 2134 Kalorama Road NW, Washington, DC 20008 telephone: [1] (202) 332-0333 FAX: [1] (202) 332-3933 consulate(s) general: Chicago, New York
Diplomatic representation from the US: chief of mission: Ambassador Michael C. POLT embassy: Kneza Milosa 50, 11000 Belgrade mailing address: 5070 Belgrade Place, Washington, DC 20521-5070 telephone: [381] (11) 361-9344 FAX: [381] (11) 361-8230 note: there is a branch office in Pristina at 30 Nazim Hikmet 38000 Prstina, Kososvo; telephone: [381] (38) 549-516; FAX:[381] (38) 549-890
Flag description:
three equal horizontal stripes of red (top), blue, and white;
charged with the coat of arms of Serbia shifted slightly to the
hoist side
Economy Serbia
Economy - overview:
MILOSEVIC-era mismanagement of the economy, an extended period of
economic sanctions, and the damage to Yugoslavia's infrastructure
and industry during the NATO airstrikes in 1999 left the economy
only half the size it was in 1990. After the ousting of former
Federal Yugoslav President MILOSEVIC in October 2000, the Democratic
Opposition of Serbia (DOS) coalition government implemented
stabilization measures and embarked on a market reform program.
After renewing its membership in the IMF in December 2000, a
down-sized Yugoslavia continued to reintegrate into the
international community by rejoining the World Bank (IBRD) and the
European Bank for Reconstruction and Development (EBRD). A World
Bank-European Commission sponsored Donors' Conference held in June
2001 raised $1.3 billion for economic restructuring. In November
2001, the Paris Club agreed to reschedule the country's $4.5 billion
public debt and wrote off 66% of the debt. In July 2004, the London
Club of private creditors forgave $1.7 billion of debt, just over
half the total owed. Belgrade has made only minimal progress in
restructuring and privatizing its holdings in major sectors of the
economy, including energy and telecommunications. It has made
halting progress towards EU membership and is currently pursuing a
Stabilization and Association Agreement with Brussels. Serbia is
also pursuing membership in the World Trade Organization.
Unemployment remains an ongoing political and economic problem. The
Republic of Montenegro severed its economy from Serbia during the
MILOSEVIC era; therefore, the formal separation of Serbia and
Montenegro in June 2006 had little real impact on either economy.
Kosovo's economy continues to transition to a market-based system
and is largely dependent on the international community and the
diaspora for financial and technical assistance. The euro and the
Yugoslav dinar are both accepted currencies in Kosovo. While
maintaining ultimate oversight, UNMIK continues to work with the EU
and Kosovo's local provisional government to accelerate economic
growth, lower unemployment, and attract foreign investment to help
Kosovo integrate into regional economic structures. The complexity
of Serbia and Kosovo's political and legal relationships has created
uncertainty over property rights and hindered the privatization of
state-owned assets in Kosovo. Most of Kosovo's population lives in
rural towns outside of the largest city, Pristina. Inefficient,
near-subsistence farming is common.
note: economic data for Serbia currently reflects information for
the former Serbia and Montenegro, unless otherwise noted; data for
Serbia alone will be added when available
GDP (purchasing power parity):
$41.15 billion for Serbia (including Kosovo) (2005 est.)
GDP (official exchange rate):
$19.19 billion for Serbia alone (excluding Kosovo) (2005 est.)
GDP - real growth rate:
5.9% for Serbia alone (excluding Kosovo) (2005 est.)
GDP - per capita (PPP):
$4,400 for Serbia (including Kosovo) (2005 est.)