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Croatian finance minister attends annual conference of IMF and World Bank in Singapore

ZAGREB, Sept 19 (Hina) - A Croatian delegation led by Finance Minister Ivan Suker is attending the annual conference of the International Monetary Fund and the World Bank, which is taking place in Singapore on September 19 and 20, the Finance Ministry said in a press release on Tuesday.
ZAGREB, Sept 19 (Hina) - A Croatian delegation led by Finance Minister Ivan Suker is attending the annual conference of the International Monetary Fund and the World Bank, which is taking place in Singapore on September 19 and 20, the Finance Ministry said in a press release on Tuesday.

Suker had a series of meetings, including those with IMF European Department Director Michael Deppler, the new World Bank Constituency Executive Director Herman Wijffels, and IMF Constituency Executive Director J.J.M. Kremers.

The main topic discussed was the successfulness of Croatia's monetary and fiscal policy programme supported by the existing stand-by arrangement, which expires in mid-November 2006.

IMF officials commended Croatia for implementing fiscal adjustments, highlighting its decision to change the national budget in order to set a more ambitious fiscal deficit target of three per cent of GDP, as opposed to the initial target of 3.3 per cent.

Suker said that the required criteria for the successful implementation of the programme for September 2006 would be fulfilled and that the third review of the programme would be brought to a successful close.

The talks also focused on the implementation of structural reforms.

Considering the results Croatia has achieved so far in implementing the programme, the Croatian delegation expects successful completion of the stand-by arrangement in November, the press release said.

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