WASHINGTON, Jan 10 (Hina) - Croatia's economy indicators are favourable and if the country sticks to its own economic programme its prospects are good, an International Monetary Fund (IMF) official said in Washington on
Thursday.
WASHINGTON, Jan 10 (Hina) - Croatia's economy indicators are
favourable and if the country sticks to its own economic programme
its prospects are good, an International Monetary Fund (IMF)
official said in Washington on Thursday. #L#
Speaking at a news conference, IMF executive director Johannes de
Beaufort Wijnholds, who is in charge of Croatia, said he was quite
optimistic regarding the future of Croatia's economy.
Croatia has a sound economic growth and low inflation, which is a
good combination, said Wijnholds.
There are no problems in the balance of payments, currency reserves
amount to US$6 billion, interest rates are very low, and most
importantly, unemployment is declining, he added.
Wijnholds expects Croatia's economic growth this year could be 4-5
percent, which he said was a satisfactory level when compared to the
slowed down rate in Western Europe.
Wijnholds said Croatia still had problems with the state budget and
structural adjustments but that this was being dealt with.
Commenting on claims that the country's foreign debt is high and
growing fast, the IMF official said the important thing was to focus
on making the debt manageable and stressed there was no reason to
believe Croatia had a problem in this area.
The IMF has not voiced any concern about Croatia's indebtedness,
said Wijnholds, but added it was important not to go too far with the
foreign debt.
Croatia no longer needs IMF money and the stand-by deal is here only
as a precaution because Croatia will not draw the funds, he said,
adding this was a sign of strength.
Wijnholds cautioned, however, that Croatia must abide by the
measures of reforms and saving which it adopted with IMF
assistance.
(hina) ha