ZAGREB, 10 July (Hina) - The National Bank of Croatia (NBH) received with regret the news that the International Monetary Fund (IMF) board of directors had decided on Wednesday that their discussion on the expected allocation of a new
loan instalment to Croatia would last until the end of July. The instalment was based on a three-year program of widened cooperation with Croatia, signed in March this year, the NBH said in a statement Thursday.
ZAGREB, 10 July (Hina) - The National Bank of Croatia (NBH) received
with regret the news that the International Monetary Fund (IMF) board of
directors had decided on Wednesday that their discussion on the expected
allocation of a new loan instalment to Croatia would last until the end
of July. The instalment was based on a three-year program of widened
cooperation with Croatia, signed in March this year, the NBH said in a
statement Thursday. #L#
As Croatia's macroeconomic stability and growth were based on solid
foundations and did not depend on loans for liquid international
reserves, the latest decision of the IMF board of directors would in no
way change the basic guidelines of Croatia's financial and general
economic policy, the statement said.
The IMF move was unusual, and from the economic point of view
inexplicable, the more so as the first revision of realisation of the
three-year program, performed by the IMF in May, had confirmed that
Croatia was implementing the agreed policy, the statement said.
The NBH was convinced that the IMF and World Bank would soon be
able to continue their constructive cooperation with Croatia, the
statement said.
(hina) rm mm
101704 MET jul 97