CRO NATIONAL BANK'S ADVISORY BOARD ON FINANCIAL MOVEMENTS

( Editorial: --> 4565 ) ZAGREB, Oct 1 (Hina) - The Croatian National Bank's (HNB) Advisory Board met on Wednesday to discuss economic and financial movements and monetary politics for the last term. The meeting was presided by National Bank Governor Marko Skreb and several reports were adopted as were some decisions regarding the bank's supervisory bodies. A statement released by the HNB notes that the bank's advisory board was particularly concerned with the recent movements in the speedier depreciation of the kuna compared to the usual movements experienced during tourist seasons in previous years. The explanation offered noted the recent events following the Asian and Russian crises which decreased the investment capital and made it more difficult for states and banks to undertake loans on the international money market. In addition the relatively high level of liquidity of the kuna further explains the movements apparent in the currency. Currency changes are not alarming as yet and as such do not require a change in money politics. Furthermore currency reserves are sufficiently high to prevent further huge jump as in the exchange rates. However, if changes in the currency rates would become so intensive which could not be covered in real economic terms, then corrective measures would be taken, the statement noted. The Croatian Currency Bureau has bee approved to manufacture gold medallions to be entitled "Pope John Paul II's visit to Split" and "Pope John Paul II in Marija Bistrica and the beatification of Cardinal Alojzije Stepinac". Each medallion will be manufactured in two sizes and a maximum of 3,000 medallions will be released. (Hina) sp 011236 MET oct 98