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NATIONAL BANK COUNCIL ON FOREIGN CURRENCY RESERVES

ZAGREB, Nov 2 (Hina) - The National Bank foreign currency reserves total US$ 1,370 billion, the National Bank said in a statement today. In October the reserves increased by US$ 209 million, half of which sum constitutes the first instalment of an IMF loan to Croatia, the statement said. At today's meeting chaired by Governor Pero Jurkovic the National Bank Council found that the circulation of money in October conformed to the Bank's plans and the IMF stand-by arrangement. The Council agreed there was no need to change monetary policy measures in November. Several council members stressed the need for initiating the rehabilitation of certain banks, the statement said. (hina) jn as 021941 MET nov 94

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