ZAGREB, March 8 (Hina) - The International Monetary Fund Resident Representative in Croatia, John Norregaard, on Monday reiterated his statement in which he welcomed the intention of the Croatian authorities to request a new stand-by
arrangement that would replace the present one that expires in several weeks.
ZAGREB, March 8 (Hina) - The International Monetary Fund Resident
Representative in Croatia, John Norregaard, on Monday reiterated his
statement in which he welcomed the intention of the Croatian
authorities to request a new stand-by arrangement that would replace
the present one that expires in several weeks.#L#
Norregaard reiterated his March 5 statement also in Croatian following
different interpretations.
"We are pleased that the government and the national bank find that an
SBA (stand-by arrangement) is helpful in supporting the implementation
of sound economic policies in Croatia. Croatia is facing serious
macroeconomic challenges, reflected first and foremost in the high
foreign debt, which has continued to increase. Croatia also faces the
bigger challenge of preparing for EU entry. We stand ready to assist
the authorities in addressing these challenges," the statement said.
The statement added that an IMF team of experts was scheduled to
arrive in Zagreb in mid-April to start talks on a new arrangement.
(Hina) vm sb