Croatian Government officials held talks

with the IMF and the World Bank

 

Washington, DC, March 15, 2002 – The Croatian Embassy in Washington, DC hosted the Croatian delegation, includind high government officials that held talks with representatives of the International Monetary Fund and the World Bank. The delegation, led by the Deputy Prime Minister, Slavko Linic, Minister of Finance, Mato Crkvenac and Governor of the Croatian National Bank, Zeljko Rohatinski, accompanied by Croatian Ambassador Ivan Grdesic, met with several high officials from the IMF and the World Bank as well as those officials from these two institutions responsible for Croatia and the region of Central and Southeastern Europe.

The purpose of the talks were to inform the leading officials from the IMF and the World Bank  about the economic processes and transitional developments in Croatia as well as  the work achieved by the Croatian Government so that the IMF Board of Directors could estimate and summarize the results of the Stand-By arrangement signed with Croatia a year earlier.

The IMF Board of Directors Assembly, anticipated on March 29, should give a final estimate of the results of the Stand-by arrangement and discuss possible future credit arrangements. Deputy Prime Minister Linic said that the Croatian side is satisfied with the talks and the positive image Croatia portrays within the international financial circles.

He further added that the Croatian side is interested in another Stand-by arrangement with the IMF, as the current one expires in mid-May. “We determined the discussions about the new Stand-by arrangement to begin in Zagreb approximately at the beginning of May”, said the Deputy Prime Minister.

The IMF, World Bank and International Financial Corporation (IFC) have shown great interest in continuing their investments in Croatia, which has already been proved last year by opening a new regional World Bank three-state hub office in Zagreb operating for the countries of Bulgaria, Romania and Croatia. During Saturday’s talks they confirmed their interest and added that the new investments should be directed for the reforms of the Croatian Retirement Fund, projects of heating, a project aimed at organizing the land-registers and cadastres as well as two huge projects targeted for the coastal region.