Republic of Croatia: Second Review Under the Stand-By Arrangement and Request for Waiver of Nonobservance of Performance Criteria
Volume/Issue:
Volume 2003
Issue 358
Publication date: November 2003
ISBN: 9781451817362
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Topics covered in this book
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Business and Economics , Banks and Banking , Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , ISCR , CR , deficit , INA privatization receipt , debt ratio , government , EU accession , proceeds , privatization receipt , Republic of Croatia's request , EU accession countries , Current account , International reserves , Credit , Global
Summary
Croatia continues to enjoy economic growth, price stability, and rising international reserves under the Stand-By Arrangement. Executive Directors commended this and stressed the need for prudent macroeconomic policies, structural reforms, fiscal consolidation, and tight monetary policy. They appreciated partial privatization of the state-owned oil company and strengthening of the financial supervision. They also emphasized the need to focus on restructuring and privatization of public enterprises to sustain high rates of economic growth and advance the prospects of Croatia's European Union accession.
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