The IMF delegates first met officials of the Croatian National Bank (HNB) to discuss the state budget for 2005 and measures and risks in the implementation of the stand-by deal, the HNB reported.
Governor Zeljko Rohatinski spoke of the latest indicators in macroeconomic trends, which show that 2004 was characterised by low inflation, a stable exchange rate of the national currency, a higher level of foreign currency holdings, the retaining of the foreign debt at about 78 percent of Gross Domestic Product, and a balance of payments current account deficit accounting for five percent of GDP.
The IMF representatives, who are on a ten-day visit to Croatia, were also notified of basic guidelines for the country's monetary policy in 2005.