ZAGREB, April 19 (Hina) - Croatian Finance Minister Mato Crkvenac told reporters in Zagreb on Wednesday his ministry would effect payment to the Croatian Pension Insurance Fund tomorrow, so that all pensioners will get their pensions
by the end of the week. Minister Crkvenac also spoke about the course of negotiations with the International Monetary Fund (IMF), and projects the Finance Ministry is working on. Negotiations with the IMF on a new stand-by arrangement are proceeding in order, the minister said, adding a deadline for its completion had not been set. "We don't know when it will be signed, it will happen once (the arrangement) is ready, all issues settled. We are under no pressure to hastily sign some arrangement with anybody. We are on the best way to signing that agreement," said Crkvenac when asked about a date for the stand-by arrangement, in view of initial annou
ZAGREB, April 19 (Hina) - Croatian Finance Minister Mato Crkvenac
told reporters in Zagreb on Wednesday his ministry would effect
payment to the Croatian Pension Insurance Fund tomorrow, so that
all pensioners will get their pensions by the end of the week.
Minister Crkvenac also spoke about the course of negotiations with
the International Monetary Fund (IMF), and projects the Finance
Ministry is working on.
Negotiations with the IMF on a new stand-by arrangement are
proceeding in order, the minister said, adding a deadline for its
completion had not been set.
"We don't know when it will be signed, it will happen once (the
arrangement) is ready, all issues settled. We are under no pressure
to hastily sign some arrangement with anybody. We are on the best
way to signing that agreement," said Crkvenac when asked about a
date for the stand-by arrangement, in view of initial announcements
that it would happen by the end of the summer, and the latest ones
that it could happen towards year's end.
After the first negotiating round, conducted from the end of March
through mid-April, it was agreed that working consultations and
talks with IMF representatives should continue, and that the IMF
should come back to Zagreb in June for a second negotiating round.
In the meantime, three IMF expert missions should stay in Croatia to
help draft proposals. Crkvenac said talks with members of one of the
missions were held today.
Asked how demands from a parliamentary debate for the replacement
of the Croatian National Bank's governor could affect negotiations
with the IMF, Crkvenac said IMF's and other international financial
institutions' experts pointed out they had found many competent
people in Croatia. No one from the international institutions is
personally linked with any of us, he stated.
Crkvenac said the Finance Ministry was drafting a budget for the
2001-2003 year period. It will continue to be a saving-oriented
budget, based on rationalisation and reform, which should be
executed in conditions of economic growth ranging between four and
six, or more, percent.
The tax system will also be amended, in view of reducing the price of
labour and encouraging employment.
Deputy Finance Minister Damir Kustrak said more than half the
amount of a total of 9.5 billion kuna of old government debts were
planned to be settled by the middle of the year.
(hina) ha jn