CFO Association of Serbia held IV online meeting on topic: “Macroeconomic review and analysis with hedging instruments – Serbia and Covid-19”


On Friday, April 10, the CFO Association of Serbia held the IVth online meeting on the topic “Macroeconomic Review and Analysis with Hedging Instruments – Serbia and Covid-19”.

On this topic they spoke:

Dušan JovčićHead of Treasury, Vojvođanska banka
Branko SrdanovićSenior FX and FI Trader, Vojvođanska banka i
Dragoslav VeličkovićHead of Investor Servieces and Macroeconimc Research and Analysis, OTP banka


During the meeting, the members of the Association had the opportunity to learn about fiscal measures in the fight against Covid-19, the expected forecasts of GDP growth in the coming year, and whether the fall in interest rates will encourage borrowing and in turn spending and investment?

Some of the issues we addressed during the second part of the meeting were:

  • Currency and interest rate risks – Available instruments for hedging the Risk Management Strategy
  • Key steps in risk management:

Identification of risk exposure

Analysis of financial condition and market conditions

Establishing a nominal amount that is subject to hedging

Defining types of derivative instruments

Hedge strategy time horizon

Analysis of the impact of the hedging strategy on the financial performance of the company

  • EUR / RSD exchange rate movements


We thank the lecturers, as well as the members of the CFO Association of Serbia for their productive discussion.

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