IMF mission starts regular Article IV visit to Croatia

By bne IntelliNews February 21, 2014

An IMF mission arrived on a 12-day Article IV mission in Croatia on February 20, the Croat central bank said.

The aim of the visit is to look closer into the current economic, financial and social conditions in the Adriatic country and to estimate the future trends, the consolidation of the public finances, the progression of structural reforms and the state of the banking system, the central bank said in a statement.

In December 2013, local economists said that Croatia should consider an IMF arrangement once it enters the EU's excessive deficit procedure, under which the government has to reduce the deficit to 2.7% of GDP in 2016 from the current 5.0% of GDP.

Yet, central bank governor Boris Vujcic said in January Croatia does not need the financial support of international lenders like the IMF and the EU. According to him, asking for international support is always an option but is not in the plans of the Croatian authorities for the time being.

Croatia ended a fifth consecutive year of recession in 2013. 

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

EBRD extends €75mn risk-sharing facility to Croatian bank PBZ

The European Bank for Reconstruction and Development (EBRD) has allocated a €75mn for risk-sharing facility to Privredna banka Zagreb (PBZ), a part of the Intesa Sanpaolo Group, as part of a new ... more

Erste's Croatian subsidiary boosts net profit by 55% in 2023

Croatia's Erste Bank, a subsidiary of Austria's Erste Group, announced a consolidated net profit of €241mn for 2023, marking a 55% increase from 2022's figure of €156mn.  ... ... more

Zagrebacka Bank hits €509mn record profit in 2023

The Zagrebacka Bank Group announced a record profit of €509mn in 2023, marking an increase of €261mn (105.2%) year on year, the Bank said in its press release on ... more

Follow Us On

Most Read

  1. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  2. Saudi Arabia to scale back plans for Neom city
    5 days ago
  3. The ruble overtakes the yuan as Russia's main currency for settling international trade deals
    6 days ago
  4. Leading emerging markets move rapidly up World Bank’s PPP GDP and FDI confidence rankings
    6 days ago
  5. Iran vs Israel: Who is better equipped for war?
    2 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    16 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    20 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    25 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    18 days ago

Reports

Dismiss