Republic of Croatia: Staff Report for 1999 Article IV Consultation

International Monetary Fund

No 2000/007, IMF Staff Country Reports from International Monetary Fund

Abstract: Until recently, Croatia's economic performance was the envy of many countries in transition: a successful stabilization effort in late 1993 was followed by virtual price stability and real GDP growth of 6 percent a year during 1994–97. Monetary tightening, the weak economy, and a drying-up of repatriated foreign savings exposed the underlying insolvency of a group of rapidly growing banks. Executive Directors emphasized that the task of restoring fiscal balance could not be accomplished without redressing the finances of the pension and health care systems.

Keywords: ISCR; CR; staff projection; Croatia; staff appraisal; reserve; coalition government; staff report note; government debt burden; authorities control; Privatization; Current account deficits; Wage adjustments; Exchange rates; Western Europe; Global (search for similar items in EconPapers)
Pages: 64
Date: 2000-01-21
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