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Central bank won't change policy

ZAGREB, March 10 (Hina) - Possible postponement of Croatia's EU entrytalks or unresolved issues from the stand-by arrangement with theInternational Monetary Fund do not carry enough weight to force thecentral bank to abandon the monetary policy it has launched and whichfocuses on price stability.
ZAGREB, March 10 (Hina) - Possible postponement of Croatia's EU entry talks or unresolved issues from the stand-by arrangement with the International Monetary Fund do not carry enough weight to force the central bank to abandon the monetary policy it has launched and which focuses on price stability.

A report on the implementation of the stand-by arrangement, which the fund was due to submit in mid-March, has been postponed for late June or early July, the Croatian National Bank said on Thursday, adding an IMF mission might visit Croatia in May.

The report was submitted due to incomplete figures on last year's fiscal deficit, necessary to estimate the execution of this year's budget and planned deficit of 3.7 percent, which are expected to be finalised by May.

The central bank said that regardless of the fund's findings it had enough strength and determination to continue with the changes it announced last year.

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