Tuesday, November 10, 2026
Vesna Peric-Zimonjic
- In the first concerted challenge to the rule of Serbian president Slobodan Milosevic, the historically fractured Belgrade opposition is uniting under a credible candidate, former central bank governor Dragoslav Avramovic.
The coalition, dubbed ‘Zajedno’ (Together) was secured this month after weeks of negotiations and years of dispute in advance of Nov. 3 elections across Serbia and Montenegro, still federated under the name Yugoslavia.
For the first time since the first multi-party elections in the former Yugoslavia in 1990, a single coalition of opposition parties links the Serbian Renewal Movement (SPO) led by the charismatic Vuk Draskovic, the Democratic Party (DS) of Zoran Djindjic, Civic Alliance (GSS) of veteran peace activist Vesna Pesic and the Democratic Party of Serbia (DSS) led by Vojislav Kostunica.
With economic recovery set to be the key issue and the country rocked by a series of major strike, the alliance also significantly includes the huge Association of Independent Trade Unions of Serbia.
Avramovic, 76, a former World Bank expert, became a near folk hero in 1994 for his powerfully effective stewardship of the Serbian economy — a powerful antidote to the deliberately destabilising effect of stiff U.N. sanctions against the country.
Nicknamed ‘Deda (Grandpa) Avram’ his tight monetary politics stabilised the economy and curbed hyperinflation that ran at 60 percent a day.
He lost his post in May 1996 in a dispute with Milosevic over his handling of talks with the World Bank and International Monetary Fund to settle Yugoslavia’s outstanding business on successor state liability and share of foreign debt.
Despite this week’s relaxation of the U.N. embargoes, the so- called ‘outer ring’ of sanctions are still in place, blocking Yugoslav readmission to the international institutions, and thus the path to external investment.
And with Avramovic’s stock still high in the west and at the Bank, his progress in Serbian politics will be welcomed by foreign powers still regarding Belgrade with a wary eye — not least for his support for swift economic liberalisation and privatisation, which has proved too much for Milosevic’s regime to swallow.
“The reform of economy, society and politics is our basic aim” Avramovic told journalists after announcing his leadership of the Together alliance. He said the current regime was blocking desperately needed economic and political reforms.
“I took this job because I am convinced that the enormous changes that began here cannot be maintained in this essentially feudal system.”
He said the coalition has three basic goals: to liberalise the state-run economy, to enact Western-style democratic reforms and reduce the size of the central government ruling the Yugoslav republics of Serbia and Montenegro.
Avramovic’s act transforms the prospects of the opposition and complicates the life of ruling Milosevic’s Socialist Party (SPS). It does not enjoy an overall majority in either Serbian or Federal parliament despite its leader’s authoritarian grip on power.
“This is the first time in the history of multi-partyism here,” says Zoran Sekulic, editor in chief of FoNet independent news agency in Belgrade, “that people in Serbia will have a choice.
“For the first time they can vote against something — as the Poles, Croats or Slovenes did against the Communists in the late 80s’ and in 1990. Maybe it’s a bit late now — we are at least six years late — but better late than never.”
A look at the figures from multi-party elections since 1990, in 1992 and 1993, show how Milosevic’s Socialists have slipped from a 75 percent vote share in 1990 to just 40.4 percent in 1992 and only 49.2 percent in 1993.
In 1992 they were able to form a government only with the help of the ultra-nationalist Radical Party of Vojislav Seselj, ditching them in 1993 to ally with the small New Democracy party. Attempts by the opposition parties to rally enough members in parliament to challenge Milosevic have always quickly foundered or failed to gain the necessary support.
The Together coalition proposes Avramovic as either a candidate for federal prime minister or central bank governor.
“I would accept the post of federal prime minister of Yugoslavia if we won the election” Avramovic told Nasa Borba. “After I put things in order, I would go then back to the post of governor of the National Bank.
“My first and only aim is to lead the country back to Europe and that is the task that can be done only with the help of a broad democratic alliance”.
Vuk Draskovic, who previously led opposition forces against Milosevic, only to be beaten and jailed for his trouble, said the opposition alliance stood against “the forces of the past, of misery, of defeat and of shame.” He said the new coalition represented “the forces of the future, of a better life and of economic, spiritual and cultural renewal.”
The struggle will be hard. Milosevic’s party strictly control the both Belgrade TV and the country’s largest daily, Politika. The independent media’s reach barely extends beyond the Belgrade city limits.
Yet in September elections over the border in Bosnia- Hercegovina, the Socialist controlled media — despite flooding the airways with supportive propaganda — failed to persuade Bosnian Serb voters to back a new Bosnian Socialist party, cloned from Milosevic’s own, and designed to exist under his thumb. The new party took only 10 out of 83 going seats in the elections there.
“The Socialists were sure of great results from their proteges in Serbian Bosnia,” says veteran Belgrade journalist Dejan Djordjevic, “citing the power of Belgrade TV, and what happened? — they were marginalised. The myth of the invincible Socialists was crushed in Bosnia. It’s time for people in Serbia to tackle the same myth.”
Not to be outdone, the Socialists have called on “all the parties of the left” to join them in coalition ahead of the elections.
The call has gone out to both the New Democracy party and the United Left, a non-parliamentary political group headed by Milosevic’s influential wife Mirjana Markovic, a university professor and newspaper columnist.
Socialist Party secretary general Gorica Gajevic said that the aim of the party was “to mobilise and unite all the progressive forces of the society at a time when the situation is becoming normalised after sanctions”. Only a union of the left and “all democratic forces” can “consolidate peace and eliminate tensions and obstacles to development and progress in the Balkans”.
A series of strikes triggered by frustration at the state of the collapsing economy, backed by tens of thousands of workers, have rocked Serbia for weeks.
“The Socialists obviously have problems,” commented Nasa Borba this week. “It is not clear why they want a broad alliance for themselves. Is it because they have panicked at the possibility of losing the elections, or because they want to triumph?
“Whatever of the two — the people in Serbia now have a unique chance. There will be a real political contest in the coming elections. For the first time.”