Republic of Croatia: First Review Under the Stand-By Arrangement and Requests for Waiver of Nonobservance of Performance Criteria and Rephasing of Purchases

Author: International Monetary Fund

Volume/Issue: Volume 2005 Issue 349

Publication date: September 2005

ISBN: 9781451817416

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Topics covered in this book

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Banks and Banking , Exports and Imports , Economics- Macroeconomics , Public Finance , ISCR , CR , Board discussion , government , privatization , commission , discussion of the Republic of Croatia , privatization plan , oil price spike , accession negotiations , Policy implementation , International reserves , Budget planning and preparation , Global

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Summary

The staff report for the First Review Under the Stand-By Arrangement on the Republic of Croatia focuses on fiscal policy and monetary and financial sector policies. Financial soundness indicators show a continuation of the overall strengthening of the banking system, although foreign exchange-related credit risk remains high. Efforts to strengthen financial discipline in the broader public sector remain an important component of the program. Progress is continuing on the agenda of the original program in the areas of fiscal management and privatization.