When the crises hit, the IMF quickly crafted rescue packages that imposed serious structural reform as conditions of aid, inevitably making some mistakes in the process, but arresting the spreading downward spiral and restoring enough confidence to allow the countries to get their policies in shape to support the climb back to economic health.
What significance does a real income increase have without an increase in productivity? It is like buying goods on credit! And since, ultimately, someone always has to pick up the bill, the role of the “volunteer” will be assumed by the NBS through adapting the exchange rate, which means that all citizens of Serbia will be paying someone else’s bill.