The IMF Permanent Representative in Zagreb, Athanasios Vamvakidis, said that from now on the mission would come to Croatia once a year, and added that the present stand-by arrangement would be concluded in mid-November.
Towards the end of September the IMF Executive Board approved a third and final review of the stand-by arrangement with Croatia, saying that the Croatian authorities had made significant progress since the signing of the arrangement more than two years ago.
Prime Minister Ivo Sanader said at the time that after the conclusion of the existing stand-by arrangement in November Croatia would not apply for a new one, but would continue its contacts with the IMF based on Article IV, under which IMF representatives would come to Croatia once a year to see how economic policy was being implemented.