ZAGREB, 14 Oct (Hina) - The Croatian Premier Zlatko Matesa on Tuesday stated he hoped that Croatia would soon establish a new form of cooperation with the International Monetary Fund (IMF). In his statement to reporters, Matesa gave
an additional explanation of why the Croatian government had decided not to use the subsequently granted second and third tranche from the so-called extended fund facility (EFF) arrangement with the IMF.
ZAGREB, 14 Oct (Hina) - The Croatian Premier Zlatko Matesa on
Tuesday stated he hoped that Croatia would soon establish a new form
of cooperation with the International Monetary Fund (IMF).
In his statement to reporters, Matesa gave an additional
explanation of why the Croatian government had decided not to use
the subsequently granted second and third tranche from the so-called
extended fund facility (EFF) arrangement with the IMF. #L#
The character of Croatia's arrangement with the IMF envisages
very precise deadlines and a monitoring process. According to
Matesa, the deadlines had been disturbed due to a postponement, and
the Government yesterday discussed the overall level of Croatia's
liquidity in international payment operations, including its
arrangement with the IMF and its purposefulness.
He stressed that the assets given by the IMF were being used
only for maintaining the country's external liquidity.
Since Croatia has had an excellent tourist season and foreign
reserves have increased in the meantime, and since certain interest
is charged for IMF assets, we have decided not to draw the loan,
Matesa explained.
He added that other countries in transition at Croatia's level
of economic development did not have that kind of arrangement with
the IMF anymore, but the so-called stuff monitoring process or
consultations as envisaged in the IMF statute.
Today, Croatia is economically ready for such a system, Matesa
said, adding he hoped that the Governor of the Croatian National
Bank, Marko Skreb, would soon meet with IMF head officials and agree
on a new form of cooperation.
Croatia has excellent relations with the IMF which have not
been disturbed by anything, Matesa said, adding that Croatia's
economic program was still supported by the IMF.
"Croatia did not wait for 10 October, the day when the IMF
management met, only because of the loan, but also because that day
the IMF said that Croatia was realising the program," Matesa said.
Asked to comment on recent requests and statements by some
factors in the international community for postponing the loan to
Croatia due to political issues, concerning, among other things,
Croatia's cooperation with the Hague Tribunal, Matesa said those
statements were very clumsy, but his position did not allow him to
comment on them.
(hina) rm
141605 MET oct 97