On Monday, 5 November 2001 (late in the evening at Croatian time), the Executive Board of the International Monetary Fund accepted the document submitted by the Government of the Republic of Croatia and the Croatian National Bank. Within the implementation of the existing stand-by arrangement, this document provides information on the economic and monetary policy projection for the forthcoming period. The document comprises the letter of intent sent to the IMF in late August and the supplementary letter of intent, sent on 31 October, which further analyses certain issues arising from recent developments.

At the same meeting, the Executive Board accepted the IMF Mission Report; based on the direct insight the Mission gained during its visit to Croatia. The statement of the Executive Director in charge of Croatia was also accepted. The statement refers to the effects of the already implemented measures and actions to be undertaken in Croatia with a view to preserving macroeconomic stability and promoting a sustainable economic growth, which will, in turn, stimulate employment.

As it has been customary in the relationship between Croatia and the International Monetary Fund, these documents will be generally available at the Croatian National Bank web site (www.hnb.hr).