ZAGREB, Feb 4 (Hina) - The International Monetary Fund's Executive Committee approved a 14-month stand-by deal for Croatia on Monday, with the right to use 105.9 million special drawing rights -- about US$146 million -- if necessary
for further economic and financial reforms, the Croatian National Bank said on Tuesday.
ZAGREB, Feb 4 (Hina) - The International Monetary Fund's Executive
Committee approved a 14-month stand-by deal for Croatia on Monday,
with the right to use 105.9 million special drawing rights -- about
US$146 million -- if necessary for further economic and financial
reforms, the Croatian National Bank said on Tuesday. #L#
However, Croatia's authorities do not intend to draw the money, the
central bank stressed.
For Croatia the deal represents a cautionary measure and the
international affirmation of the credibility of its commitments in
terms of fiscal consolidation and structural changes, especially
with regard to stabilising the public debt, increasing the
adaptability of the labour market, and making new headway in
privatisation, the bank said.
(hina) ha sb