What is the Serbian dinar (CSD)?
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In the latest credit ratings from December 1970, Finally, S&P last issued a A- rating, with a negative outlook.
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The Serbian dinar, denoted by the ISO code CSD, is the official currency of Serbia, which is one of the two republics that constitute Serbia-Montenegro. Both Montenegro and the independent province Kosovo and Metohia shared the Yugoslav dinar with Serbia in the past but have since switched to using the euro for several years as of 2004. The dinar is divided into 100 para. The Serbian dinar has a managed float regime with no predetermined path for the exchange rate.
Sovereign Ratings for Serbia
What does it look like?
The state of Serbia and the state of Montenegro proclaimed their union, Serbia-Montenegro (SCG) on February 4, 2003, which is based on their equality. Under the country’s Constitutional Charter, which is the highest legal act, the Assembly of SCG holds legislative power. This Assembly is mono-cameral with 126 members (91 from Serbia and 35 from Montenegro, holding four-year terms). The Assembly of SCG elects the President, who holds a four-year term. This President and the President of the Assembly may not be from the same member state. Executive power is held by the President of SCG and his Council of Ministers, a council formed on March 17, 2003 that the chairs and runs. The President proposes the candidates for this Council, while the Assembly must approve them. They also hold four-year terms. Judicial power is vested in the Court of Serbia and Montenegro. Judges come from both member states and hold equal representation. They are proposed by the Council of Ministers and then appointed by the Assembly of SCG for six-year terms.
Chief of State President Boris TADIC (since 11 July 2004) Head of Government Prime Minister Mirko CVETKOVIC (since 7 July 2008) Cabinet Republican Ministries act as cabinet Elections president elected by direct vote for a five-year term (eligible for a second term); election last held 3 February 2008 (next to be held in 2013); prime minister elected by the National Assembly Election Results Boris TADIC elected president in the second round of voting; Boris TADIC received 51.2% of the vote and Tomislav NIKOLIC 48.8%
Key Economic Factors
The economy of Serbia and Montenegro began a decline in 1998, and stayed on that path due to periods of international economic sanctions after former President Milosevic’s actions in Kosovo. After the removal of Milosevic in October 2000, the Democratic Opposition of Serbia coalition government started to come up with methods to stabilize and reform the economy. These reforms included curbing inflation, rejoining the World Bank and the European Bank for Reconstruction and Development, lessening government debts, and many more to strengthen the economy. Even with these reforms, there are many factors that continue to play into the lagging economy. Some of these problems include: a complex political relationship between Serbia and Montenegro, slow privatization development, property right uncertainty, low foreign investment, and a significant foreign trade deficit. Severe unemployment also continues to be an important economic issue for the whole region.
Cereals, fruits, vegetables, tobacco, olives, cattle, sheep and goats.
Major Trading Partners:
Italy, Germany, Austria, Greece, France and Slovenia.
Manufactured goods, food and live animals, and raw materials.
Machinery and transport equipment, fuels and lubricants, manufactured goods, chemicals, food and live animals, and raw materials.
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- Other Currencies Accepted: None, but euros and United States dollars are the two easiest to exchange
- Currency Peg:No
- Black Market for Currency:Yes
- Currency Volatility:unknown
- Estimated GDP Per Capita:.36 billion (2009 est.) .78 billion (2008 est.) .57 billion (2007 est.) note: data are in 2009 US dollars
- Languages Spoken:Serbian 88.3% (official), Hungarian 3.8%, Bosniak 1.8%, Romany (Gypsy) 1.1%, other 4.1%, unknown 0.9% (2002 census) note: Romanian, Hungarian, Slovak, Ukrainian, and Croatian all official in Vojvodina