WASHINGTON, April 28 (Hina) - Countries which feel consequences of the Kosovo crisis and the NATO military operation against Yugoslavia (Serbia/Montenegro) should urgently receive help, for instance, by enabling them to cover the
foreign and budget deficit with which they will incur inevitably. This is one of conclusions of Tuesday's meeting, chaired by the International Monetary Fund executive director Michel Camdessus and the World Bank's President James Wolfesohn, which involved representatives of 33 states and seven international organisations. Present at the meeting was Croatia's Central Bank Governor Marko Skreb, as a representative of one of six south-eastern European countries that felt the direct impact of the Kosovo crisis. After the Washington meeting, held behind the closed doors, a statement was released mentioning the short-term and long-term measures by which the intern
WASHINGTON, April 28 (Hina) - Countries which feel consequences of
the Kosovo crisis and the NATO military operation against
Yugoslavia (Serbia/Montenegro) should urgently receive help, for
instance, by enabling them to cover the foreign and budget deficit
with which they will incur inevitably.
This is one of conclusions of Tuesday's meeting, chaired by the
International Monetary Fund executive director Michel Camdessus
and the World Bank's President James Wolfesohn, which involved
representatives of 33 states and seven international
organisations.
Present at the meeting was Croatia's Central Bank Governor Marko
Skreb, as a representative of one of six south-eastern European
countries that felt the direct impact of the Kosovo crisis.
After the Washington meeting, held behind the closed doors, a
statement was released mentioning the short-term and long-term
measures by which the international community can respond to
humanitarian, economic and financial consequences of the Kosovo
crisis.
Participants greeted a decision of the Paris Club to postpone all
payments for rates of loans of Albania and Macedonia which are
facing an extremely difficult situation by providing shelter for
about 600,000 Kosovo refugees. Donors were asked to respond
urgently in order to alleviate the humanitarian crisis.
All countries in the region were called to continue moving on the
path of the economic reforms regardless of the current
difficulties.
It was concluded that the assistance should be offered on the ground
of individual assessments of needs of each country in the region,
whereas donors should ensure mutual coordination.
All participants in the event agreed on the necessity to achieve a
lasting peace as well as the economic stability in the region.
Additional efforts should be taken in the reconstruction of Kosovo
in order to enable refugees to return to their homes. The
international financial institutions were asked to continue
following closely needs and building a strategy of midium-term and
long-term objectives for south-eastern European countries.
The World Bank and the European Union were charged of coordinating
assessments of needs and finding ways for offering assistance. They
are to co-chair forthcoming meetings of donor-countries which will
cover losses in budgets and foreign trade of the countries in the
region.
(hina) ms