SESSION OF PRESIDENTIAL DEFENCE AND NATIONAL SECURITY COUNCIL HELD

HELD $ ZAGREB, June 3 (Hina) - A session of the Presidential Council of Defence and National Security was held today under the chairmanship of President Franjo Tudjman. The Council discussed economic and other prerequisites necessary to make the kuna a hard currency, said the Presidential office in a statement today. Prime Minister Nikica Valentic informed the Council that the monetary reform was completed in Croatia by the introducing of a new Croatian currency which international code is HRK 191. The stable and convertible kuna is a prerequisite for the further development of the Croatian economy. Valentic stressed that the Government would continue implementing the stabilization program and reforming the Croatian economy. A significant increase in the production was registered now for the first time after 1987. The Govt. will insist on the financial discipline in the payment system. Croatia met all conditions of the IMF by its previous economic program and it is expected that the Govt. will sign a letter of intent with the IMF and conclude financial agreements with leading international financial institutions in the next few months. The Council commended the Government, Prime Minister Nikica Valentic and governor of the National Bank of Croatia Pero Jurkovic for their efforts made towards introducing of kuna and creating of conditions for overall international financial support and development of Croatia's economic renewal. The Council also discussed some issues on foreign policy and Croatia's international position. The Council was informed about the construction of the Altar of the Homeland, a monument erected on Mount Medvednica overlooking Zagreb in memory of heroes who fell for Croatia's freedom, said the statement. 031658 MET jun 94