Republic of Croatia: Request for Stand-By Arrangement

Author: International Monetary Fund

This paper examines the Croatia's Request for a Stand-By Arrangement (SBA). Despite a disappointing merchandise trade performance, strong exports of services and private transfers have helped restrain the current account deficit. The authorities' program for 2003 constitutes a major step toward long-term fiscal sustainability and higher economic growth. The authorities recognize that more needs to be done in the future to boost the population's standard of living and put Croatia on a firm path of real convergence with the European Union. The IMF staff supports the authorities' request for a SBA.

Volume/Issue: Volume 2003 Issue 027

Publication date: February 2003

ISBN: 9781451817287

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Business and Economics , Banks and Banking , Exports and Imports , Money and Monetary Policy , Public Finance , ISCR , CR , twelve-month rate , headline inflation , core inflation , privatization receipt , core rate of inflation , government debt guarantee , appreciation pressure , International reserves , Currencies , Europe , Global , Western Europe , Eastern Europe

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Summary

This paper examines the Croatia’s Request for a Stand-By Arrangement (SBA). Despite a disappointing merchandise trade performance, strong exports of services and private transfers have helped restrain the current account deficit. The authorities' program for 2003 constitutes a major step toward long-term fiscal sustainability and higher economic growth. The authorities recognize that more needs to be done in the future to boost the population’s standard of living and put Croatia on a firm path of real convergence with the European Union. The IMF staff supports the authorities’ request for a SBA.